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Hyundai did not immediately reply to an email seeking comment outside business hor for supply chain financing.TIGHTER SCRUTINYOther lenders have also become more wary of lending to dealers with credit lines from different banks."There is an auto sales slowdown and we have substantial exposure to autos.In its memo, SBI said that if a dealer had raised funding from more than three banks including SBI, the collateral requirement would be increased to a minimum of 50 per cent."In view of the current slowdown in the auto sector, the bank is continuously reviewing its exposure," SBI told Reuters, adding that it is evaluating the situation and engaging with dealers to ensure the sector does not face any undue stress.The company is India’s second-largest carmaker with more than 16 per cent of a market accounting for 3.In an effort to help its dealers, Maruti Suzuki has tied up with state-run Bank of Baroda for dealer finance and is in talks with other banks to ease strict lending terms, local newspaper Mint reported earlier in July.

While it Type Electric In Wheel Hub Motors for sale  is known that several Indian banks have broadly tightened lending to the auto sector, specifics have not been disclosed.8 billion rupees (USD 10.3 million passenger vehicles in the year to March 31. We want to stay safe and this was done to mitigate risk and protect us," said the SBI official, who asked not to be named because the details had not been made public. The liquidity crunch in non-bank financing, higher insurance costs and rises in taxation have served to increase the pressure on the car sector, with monthly auto sales falling by 17-20 per cent since April.