Many banks believed lending to individuals is risk-free given they are better placed with credit scores. But the recent slowdown and vanishing jobs are upending the belief.
SBI Cards says it’s the second-largest credit card issuer with a customer base of over 8.7 million people in India.
According to CCD's annual report, it had taken Rs 310 crore from Axis Bank as of March 2018 which had increased from Rs 92 crore a year ago.
Promoter entity Ryka Commercial sells 11.6 million shares of Future Lifestyle Fashion in a secondary market transaction.
UBI Managing Director Ashok Kumar Pradhan has said that the bank had Rs 90 crore exposure to Visa Steel, which defaulted a total of Rs 3600 crore of bank loans.
Last week, former economic affairs secretary Garg was shunted to the power ministry in a bureaucratic reshuffle announced by the government.
The above facilities are fully secured by collaterals of properties besides primary securities and all the loan accounts are regular as on date, the bank said.
Most of the consumer loans, such as retail, automobile and personal, are based on the benchmark one-year MCLR.
Giving NBFCs the false appearance of health would only increase, not decrease the chances of a systemic crisis.