Chocolates for defaulters! SBI mulls innovative way to ensure timely loan repayment2 min read 17 Sep 2023, 03:59 PM IST
SBI's retail loan book grew over 16.46 per cent to ₹12,04,279 crore in the June 2023 quarter from ₹10,34,111 crore in the year-ago period, making it the largest asset class for the lender whose total book stood at ₹33,03,731 crore, growing at 13.9 per cent on-year.
State Bank of India (SBI), India's largest lender, has now come up with an innovative way to ensure timely repayment of loans- a surprise visit with a pack of chocolates. This novel way is intended to encourage borrowers, especially retail borrowers, to make timely repayments.