Auto loans likely to face downside risks on weak CV demand

MUMBAI: With the country's economic growth likely to be slower, fall in the rupee and global-trade tensions, auto loans are likely to face downside risks, says a report. Global rating agency, Fitch Ratings, has forecast the country's GDP growth to slow to 7 percent in FY20, which may limit demand for commercial vehicles. In its sixth bi-monthly monetary policy review announced Thursday, the Reserve Bank of India has projected GDP growth for 2019-20 at 7.4 per cent.