17th Jan 17 State Bank of India likely to increase its stake in its credit card joint venture SBI cards
SBI is likely to increase its stake in its credit card joint venture named as SBI cards and payments services (SBICPSL). SBI expects to complete the deal by March, 2017. Currently, SBI with 47.6 lakh credit cards has the second largest number of credit cards in circulation in the country.
17th Jan 17 Yes Bank hired Silicon Valley based Gunshup to develop banking chatbot for loan offerings
Yes Bank has announced a partnership with Silicon Valley based Gunshup (a bot platform) to develop its chatbot named as YES mPOWER. The chatbot will facilitate customers to perform transactions on various social messengers. Customers will also get full information about various loan products (personal loan and mortgage loan) of the bank on the platform.
14th Jan 17 Retail loan applications fall 31 percent after demonetization
CIBIL in its report has highlighted a decline in volume of retail loan applications to 31 percent during 1st November to 31st December, 2016. The volume of retail loan application has dropped to 10.3 million as compared to an expected 14.9 million during the two month tenure after demonetisation.
13th Jan 17 HDFC Bank reduces personal loan interest rates to 11.29 percent
HDFC Bank has reduced its personal loan interest rates by 20 basis points. The revised personal loan interest now stands at 11.29 percent as compared to 11.49 percent earlier.
12th Jan 17 CIBIL reports a slowdown in retail loan portfolio of banks post demonetization
CIBIL in its report has highlighted a decline in demand for consumer durable loans and auto loans by 60 and 43 percent respectively during November and December this year as compared to previous year. The volume of loan applications has reduced across various loan segments and has been reported at 12 lakh, 16 lakh and 15 lakh for categories of consumer durable loans, personal loans and auto loans respectively during the two months period post demonetization.
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