The rate sensitive auto sector has been one of the most battered down in the near-crisis situation of the financial market. While institutions have been refuting claims of a slowdown, Magma Fincorp has come out with the grim truth.
Speaking to CNBC-TV18 in an exclusive interview, Sanjay Chamria, vice-chairman and managing director of the NBFC revealed that they do see shrinkage in demand on a macro-level. Magma Fincorp is engaged in providing finance for utility vehicles and commercial vehicles.
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