Edelweiss ARC to acquire education loan portfolio of Indian Overseas Bank at 60% discount

​​Banks are encouraged to provide education loans as it is classified as priority sector loans that they are mandated to provide each year. Education loan portfolio as of December 31, 2020, has turned sour. This is significantly higher than 7.61% for FY 2020.

from Banking/Finance-Industry-Economic Times https://ift.tt/3K5nb7s