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Our dark tunnel that is financial get longer — that’s the message from bad loans of SBI Cards

Credit debt as a portion of this total is small, however it is credit that is expensive and standard is generally a indication that personal funds have been in difficulty.

I t will be the canary within the coalmine: SBI Cards and Payments has reported a trebling of its bad loan portion in only one quarter. The bad loan ratio would have jumped more than five-fold, from 1.4 per cent to 7.5 per cent if it had not been for the moratorium order preventing the full recognition of delinquency. Personal credit card debt as a share for the total is small, however it is credit that is expensive standard is normally an indication that individual funds have been in trouble. So does this development have a more substantial importance?

The government-owned banks had mimicked some private banks and switched their focus from industrial credit to retail and service sector loans, which now account for over half the total loan book in the last couple of years. This had followed the realisation that commercial loans (especially to big businesses) usually went into difficulty. Money owed had been because high as 17.6 %, nearly all of it involving big borrowers, even while bank frauds proceeded to flourish — 90 per cent of these within the government’s banking institutions, which demonstrably face continuing issues in assessing danger and scamsters that are spotting. Continue reading