Wednesday, March 4, 2026

Loan repaid? Vehicle hypothecation to be removed automatically under new online system

Vehicle owners will no longer need to visit transport offices to remove hypothecation from registration certificates. A new online system, launched on March 1, automates this process after loan repayment. This initiative aims to simplify procedures and save time for borrowers. Initially integrated with one nationalised bank and five NBFCs, more lenders will be added soon.

from Auto-Industry-Economic Times https://ift.tt/IwCHW5Z

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