The credit crunch is affecting those in the non-banking financial  business; not only are small ones being affected but also big names like Tata and Reliance are learnt to be facing the heat. Banks and NBFCs are not only going slow on two wheelers but on commercial vehicle finance as well. 

Here is a transcript of Gopika Gopakumar and Sumantra Barooah's comments on CNBC-TV18. Also watch the accompanying video.

Banks and non-banking financial companies, or NBFCs, are going slow on commercial vehicle finance, sources said.

Shriram Transport Finance has cut its lending by 25–30%. Mahindra Finance has wound up this business. Similarly, Magma Finance may go slow on fresh applications.

ICICI Bank's April-October advances are down 35% and the bank curtailed certain geographies and segments. Meanwhile, HDFC Bank's October CV advances are down substantially.

Some of the factors for this slowdown are high interest rates, dip in demand and a cut in production by manufacturers.