Car Loan by commercial Banks – Consumer Attitudes’ on Schemes

Abstract

is considered to be the second fastest growing country in the world. Of late, India has emerged as a pre-dominantly industrialized and service sector focused economy. The growth rate over the last couple of years proved this fact. Liberalization of the economy matched with a young population has led to increase in the incomes and purchasing power. International brands and trends have captured the minds of the young population. Aspiring for better quality products, fast changing life style and higher expectations to grow in life have become the order of the day. A common man, who had a strong aversion to credit, is now in favour of credit for convenience in shopping, for financing housing, automobiles, consumer durables and even to enjoy holidays. The Indian consumer has an opportunity to select from an array of financing schemes offered by a large number of banks and other financial institutions. Commercial banks have now entered into an understanding with non-banking finance companies to meet the growing demands for consumer finance as a result of increased product offering in consumer goods.