Vehicle registration drops as banks tighten lending

Registration of personal vehicles saw a drastic decline due to banks tightening of auto loans. From an average of 3000 vehicle every month, the registration has slowed and gone down to 1300 plus in March. The Central Bank has allowed banks and financial institutions to lend only up to 50 percent of the valuation of the motor vehicle. Earlier the lending was as high as 80 percent of the valuation.