India, Feb. 19 -- Something I learned recently is that almost 60 per cent of light commercial vehicle (3W/4W) loans in India go into some form of default. While many are resolved, they often lead to the vehicle owners-operator going into a debt spiral - if you have ever been in credit card hell you know what this can mean.

So how does someone resolve this issue? It is not something a traditional NBFC giving a loan to a traditional internal combustion engine 3W can easily do. Because they don't really monitor the vehicle and usage. So if things are going wrong for the owner-operator they only find out when they default on a payment. Then it is the same call-centre and collection agency process. A high rate of missed payments, unintentiona...