Kotak Mahindra Bank’s managing director and chief executive officer Ashok Vaswani on October 25 said the bank is seeing stress in the retail segment of the commercial vehicles loans.

“As far as CV is concerned, in the retail segment of CV, we have seen some stress. There were some anomalies in the marketplace introduced by GST, which, luckily, have been kind of sorted out with the recent changes,” Vaswani said during the post earning media call.

He added that the cashflows in the retail segment of commercial vehicles loans were not holding up and there were some other difficulties too. “In Q1 and Q2, we have not seen improvement and hence we are calling it out now.”

In the July-September quarter, advances of Commercial Vehicles and Commercial Equipment grew just 2 percent quarter-on-q

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