Page 8 - Bank Loans

SBI hikes MCLR by up to 15 bps across tenors making consumer loans costlier

State Bank of India has raised the marginal cost of funds-based lending rate (MCLR) by 15 basis points across tenors, making most consumer loans costlier for borrowers. The revised rates come into effect from November 15, 2022. The benchmark one-year MCLR, which is used as base for fixing most of home, auto and personal loans, has been raised by 10 basis points (bps) to 8.05 per cent, as against 7.95 per cent earlier. Likewise, the two-year and three-year MCLRs have been raised by 10 basis points each to 8.25 per cent and 8.35 per cent, respectively, SBI said in a notification on its website. Among others, one-month and three-month MCLRs have been increased by 15 basis points each to 7.75 per cent. The six-month MCLR is up by 15 basis points at 8.05 per cent while the overnight rate is higher by 10 basis points at 7.60 per cent.

PSBs' Q2 net profits zoom 50% YoY on steady rise in interest income

Strong loan growth, rising lending rates give the boost

Banks' loans rise 17.9% YoY in two weeks to Oct 21, deposits up 9.5%: RBI

Bank deposits fell Rs 601.16 billion to Rs 172.04 trillion rupees in the two weeks to Oct 21

Moneyboxx Finance gets Rs 50 cr term loan from SBI to expand its operations

Moneyboxx caters to the credit needs of micro entrepreneurs in Tier-3 and below regions of the country

In call with bankers, Musk pledges to close Twitter deal by Friday

Elon Musk pledged to close the acquisition of Twitter Inc. by Friday in a video conference call with bankers helping fund the deal

Q2 scorecard: Banks' loan growth outpaces deposits by a huge margin

Banks walk the extra mile to woo depositors

Bank of Maharashtra Q2 net doubles YoY to Rs 535 cr as NIM improves

Lender eyes equity offering by Q4FY23 or early FY24

Select lender that will offer amount needed to buy chosen property

While you should evaluate festive offers, criteria like ease of prepayment are also crucial

Use data on education loan defaults to rank courses

Information on default rates of specific courses and institutions should be made available to the public. Students could use it as one of their selection criteria

Private banks show healthy loan, deposit growth in Q2, Casa share dips QoQ

According to RBI data, bank credit grew at 16.2% YoY as on September 9, while deposits were up by 9.5%

YES Bank's Q2 loan book grows 11.6% YoY; deposit base cross Rs 2-trn mark

The share of low-cost money, CASA , in deposits was 31.3% as of September 30, 2022

Loan provisioning in banks: RBI for expected loss-based approach

With low NPAs and high provisions, time ripe for global standards: Bankers

RBI to publish paper on expected loss-based approach for loan provisioning

Banks now make loan loss provisions on incurred loss model, wherein provisions are made after defaults

MSMEs' input costs rising, but risk to restructured loan book could fall

If MSMEs are unable to pass on input costs to their customers, then units, especially weaker ones, are likely to face difficulties, said a senior executive of a private bank

What borrowers should know about their rights against loan recovery agents

People who fail to repay their loans are not criminals and they can't be harassed

Bank NPAs loans may drop to 5% by March 2023 on economic rebound: Crisil

May even touch decadal low of 4% by March 2024; MSMEs remain vulnerable with one-fourth of recast accounts likely to turn NPAs

S&P affirms State Bank of India's 'BBB-' rating on improving asset quality

The rating agency also affirmed the short-term issuer credit rating 'A-3' and maintained stable outlook for the rating

Loans against sovereign gold bonds may help reduce borrowing cost: Experts

There's a five-year lock-in on SGBs and thereafter you may have to sell them at a discount, hence borrow

National Highways Infra Trust to raise Rs 2,350 cr via bonds, bank loans

To fund acquisition of three projects from NHAI, with which it will sign a concession agreement for 20 years

Chinese banks inflating loan numbers amid struggle to meet govt demands

Some state-owned Chinese banks are extending loans to companies and then allowing them to deposit funds at the same interest rate