The company stated that it will pay the principal first interest payment on December 26, 2022, the second payment will be made on December 26, 2023, and the last and final payment will be made on December 24, 2024, along with maturity proceeds.
SBI Cards gets Rs 450 crore funds from parent SBI, proforma gross NPAs double to 4.51%
SBI Cards & Payments had earlier seen its gross NPAs doubling to 4.29 per cent in the second quarter (July-Sept) of 2020-21. The gross NPAs stand at 1.61 per cent of gross advances in December 2020 as against 0.83 per cent a year ago
Anand Adhikari | January 21, 2021 | Updated 21:35 IST
The gross NPAs stand at 1.61 per cent of gross advances in December 2020
SBI Cards & Payments, the credit card arm of the country s largest bank, the State Bank of India (SBI), has received Rs 450 crore of long-term funds from its parent. The second-largest card issuer in the country after HDFC Bank got this money at an attractive fixed interest rate of 6.0 per cent per annum for a period of 5 years.