One of the Public sector lending Banks Corporation bank is planning to hike its Retail Loan portfolio by 25%. An executive of the bank reported that with more user oriented facilities bank will increase its retail loan portfolio within a year.
Managing director of the bank reported that the bank is doing well MSME and agriculture, they are having a growth of more 30% in these areas, but in retail they are having 15%, so they wanted to increase it up to 25%. To accomplish their goal bank is setting up SMSE centers and introducing more user friendly facilities.
Bank is providing lower interest rate i.e. 10.65% on auto loan in comparison to other banks. The interest rate for the home loan of the bank is 10.25%. In addition to this bank is planning to initiate 300 new branches across the country, out of which 150 have already been opened.