Asianet Newsable

45,000 cabbies lose vehicles due to loan defaults in Telangana

The pandemic, lockdown and mountain of debts has resulted in as many as 45,000 cab drivers in Hyderabad losing their vehicles as insurance agencies and money lenders have seized the vehicles.

45000 cabbies lose vehicles due to loan defaults in Telangana-ycb
Hyderabad, First Published Jun 26, 2021, 4:03 PM IST
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Even before Covid first wave impact could offer some breather, the second lockdown has had cascading impact on Telangana cab drivers as about 45,000 drivers have lost their vehicles due to seizure.

Insurance agencies and money lenders after a few months of default and notices have taken away cabs from drivers.

The development was confirmed by Regional Transportation Authority and transport unions from Hyderabad, says a report.

As per reports, the cab drivers have now turned into hawkers selling vegetables, fruits on the road side. Some have ended up as cleaners in lorry and trucks.

Some of the drivers are also facing cases now as agencies have slapped notices.

The cab drivers who recently took vehicles at the start of 2020 are worst hit as their debt kept mounting and with no income, ended up as defaulters.

Though some drivers are hoping to get back to business after avoiding calls from agencies, they are on the list of lookouts from seizing agents.  The agents track the vehicles by their movement and seize them on the spot.

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