The disruptions caused by Covid-19 moderated the portfolio growth to 6% in FY 2021
CSC units are increasingly being accessed by banks and insurance companies, FMCG firms and auto makers, said the report.
Last month, SBI had said the bank was also in the process of identifying climate risks that have the potential to generate a substantive business
Loan sanctioning and debt recovery may move at slow pace now
The guidelines will be implemented from April 2022 for bad loans on or after April 1 that year.
In the six months ended September 2021, total loans outstanding in the personal loan segment increased by Rs 73,000 crore.
The RBI had given in-principle approval to a consortium led by Centrum Financial Services and fintech firm BharatPe to buy the impaired PMC Bank
Lending to major businesses witness sluggish demand
RBI’s decision will help small businesses with bank exposure of less than Rs 5 crore
Taking out a home equity loan can be advantageous, but can also be a debt trap because it reduces the value of the equity in your property over time