Chidambaram cited the example given by the State Bank Chairman that car sales picked up momentum after the reduction of EMIs. SBI was selling 400 cars per day when the EMI was Rs 1,766 per lakh per month for seven years loan. The sales jumped to 700 cars per day, when the EMI was brought down to Rs 1,725. It shot up further to 1,200 cars, once the EMI was further reduced to Rs 1,699.