Friday, Apr 29, 2005
Friday, Apr 29, 2005 |
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Special Correspondent
THIRUVANANTHAPURAM: The State Bank of Travancore (SBT) has introduced a new product called `Road Transport Operators' Special Loan Scheme' for the benefit of those operating goods and passenger vehicle services. A goods/passenger service operator owning a fleet of 10 or more vehicles is not eligible for the benefit of this scheme. The applicant or the driver engaged by him should have a driving licence and the relevant route permit to operate the service. The bank will give up to 85 per cent of the cost of a new vehicle and up to 65 per cent of the cost of a second-hand vehicle as loan. The second-hand vehicle being purchased with the loan shall not be more than three years old and its useful life shall not exceed the repayment period.
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