Bhatt says teaser loans not risky at all
By Joseph Samson
Jan 31, 2011
Print    Email    RSS   

Chairman of the largest lender of the country, State Bank of India, Mr O P Bhatt has defended the teaser loan scheme offered by his bank to be completely valid and free from risk for system, bank and customers.

Terming these loans to be risky, Reserve Bank of India had asked banks to increase provisioning on such loans from 0.4% to 2%. Bhatt refused to accept the increased provisioning norms stating that the scheme is totally transparent.

He said that if revised provisioning norms are accepted, then the bank's share prices and profits would be affected.

"Almost 80 per cent of these customers took loans of less than Rs 10 lakh. It is only the aam admi who takes such a loan," he said.

SBI has been the pioneer in launching these special loan schemes.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Choices available for home buyers
Home Loans come with Tax Rebates!
Evaluate Hidden costs before buying a house
A chronicle of excesses by loan recovery...
Identify the cheapest home loan offer

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive