Auctions of retail loans are at a level never seen before in India as NBFCs and banks seek to get rid of soured assets in economy impacted by Covid. In the market shift, ARCs are increasing their purchase of stressed retail loans.
Punjab National Bank will hive off newly set up credit card biz into a wholly owned subsidiary; gets RBI nod to dilute stake in new entity to 51%.
SBI Card sells Rs 200 cr of bad loans to Encore ARC in Q1 of FY22; the credit card company of SBI plans to sell a similar amount in Q2.
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SBI will start making pre-delinquency calls so that NPAs are under check and borrowers gear up to make their payments, said deputy MD Saloni Narayan.
Banks lure customers with lower interest rates as part of festive offer as market shifts to retail loans. Here is what SBI, PNB, BOB, Bank of Maharashtra and Kotak Mahindra Bank are offering.
IOB expects to come out of PCA and recovery of bad loans is one of the key areas of focus; education loans comprise 13% of the bank’s retail loan book.
A late entrant in the personal gold loan market, SBI is targeting to grow the gold loan book to Rs 1 lakh cr in a year’s time, said deputy MD Saloni Narayan.
A surge in gold loans pushes retail advances to top of bank credit for first time; industrial credit is at Rs 28.24 lakh cr while retail is tad higher at Rs 28.58 lakh cr.
DICGC asks depositors of 21 insured co-operative banks, including PMC Bank, to prepare list of account holders eligible to receive Rs 5 lakh within 90 days.
