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SBI Cards gets Rs 450 crore funds from parent SBI, proforma gross NPAs double to 4.51%


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. ....

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