ICICI’s Loan Portfolio Touches INR 1 Trillion:
ICICI Bank has surpassed all expectations by
crossing the esteemed INR 1 trillion mark in loan distributions, which has not
been achieved by any Indian private lender previously. Their loan book stands
at a 25 percent growth on a yearly basis. Around 50 percent of the housing
loans they deliver are to their own clienteles. ICICI aims to boost this figure as home loan schemes (average ticket size is INR 35 to 36 lacs) are considered an ideal means to cross-sell their other financial services and products according to the Executive Director, Mr. Rajiv Sabharwal. ICICI has sealed its rank 1 position amongst country’s private banks with the launch of loans via digital banking. Products such as Express Home Loans and iLoans can be accessed via internet or smartphone and the procedures can be completed in a matter of a few clicks. This is not unlike electronic money transfer via NEFT and RTGS using IFSC Code.
Source: http://www.livemint.com/Industry/lNosKw3PmCuomjkcVcnT7M/ICICI-Banks-mortgage-portfolio-crosses-Rs1-trillion.html
PNB Loan Reclamations Faces Hitches in Maharashtra:
While already reeled under a marked increase in
stressed loans, Punjab National Bank’s endeavours to recover them has faced
major obstacles in the state of Maharashtra. PNB is a Delhi-based public sector
bank with a huge clientele. They are blaming the state government for
unwarranted postponement in giving authorization and aid to seize properties of
the nonpayers. In a strongly-worded
letter to Bank of Maharashtra (BoM), which is the convener bank for the State
Level Bankers' Committee (SLBC), PNB stated that they are dealing with great
difficulty in gaining support from district judges for seizing assets as per
the SaRFESI (Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest) Act. PNB officials are agitated regarding the
issue owing to the involvement of large sums of public money. It appealed to BoM to look into the issue and
to commence deliberations at the SLBC meet last week.
Source:
http://www.business-standard.com/article/finance/pnb-loan-recoveries-hit-hurdle-in-maharashtra-116022400920_1.html
