SBI Card sees spike in default, 9% avail recast, spends dip 10%

Around 84% of SBI Card’s customers are salaried, of which 38% work in the public sector and 24% in large corporates. Yet, 9% of its receivables of Rs 24,000 crore are under the RBI’s resolution plan, indicating that these borrowers are facing financial stress.

from Banking/Finance-Industry-Economic Times https://ift.tt/35scDeW