 "SBI, State Bank of India")
Country’s largest lender State Bank of India is getting aggressive in retail and MSME gold business and plans over three-fold growth in this portfolio to Rs 20,000 crore by March 2021.
It will use digital banking platform YONO extensively to cut-down on response time and scale up activity for it.
Banks including SBI have an edge over gold loan companies due to lower lending rates. But they often lose out on turnaround time - take longer to give loans, while likes of Muthoot and Manappuram act quickly.
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