Page 5 - Banking Finance April 2023

BANK UPDATE

Banking

News

Safety tips to avoid new- attributed the decline in gross Non- employees, loan for plot purchase and
Performing Assets (NPAs) to the post- construction, home improvement loan,
age cyber fraud
Covid economic recovery and higher loan against residential commercial
A leading private sector bank helped credit growth. property, balance transfer and top up,
the Alipore police station in Kolkata to among others, to customers from
It said the biggest improvement would
organise an awareness programme on lower and middle-income groups.
be in the corporate loan segment,
bank and cyber fraud at the Indian
where gross NPAs are seen falling be- "Home loan penetration in India is rela-
Management Institute.
low two per cent in the next fiscal from tively lower as compared to the most
SIM-swap and UPI transaction-related
a peak of about 16 per cent as on developed economies of the world.
frauds are fast replacing all other
March 31, 2018. This offers an opportunity for lenders
forms of modus operandi being
"This follows significant clean-up of to bridge this gap with their product
adopted by cyber crooks, warned ex- offerings. We are happy to partner
books by banks in recent years, as well
perts at the event. with Aadhar Housing Finance, to bring
as strengthened risk management and
Arup Kumar Banerjee, OC Alipore and forth a slew of affordable home finance
underwriting, which has led to higher
bank representatives shared real-life solutions that will largely benefit indi-
preference for borrowers with better
experiences in probing "new-age digi- viduals from lower-and middle-income
credit profiles. The steady improve-
tal frauds." Police officers and bank groups by helping them fulfill their
ment in corporate asset quality is
officials highlighted basic do's and dream of building their own home.
clearly manifested in key indicators
don'ts to tackle changing techniques Given our vast network of banking re-
such as the credit quality of bank ex-
adopted by cyber fraudsters. "The idea lationships, we aim to cater to the fi-
posures," Assocham Secretary General
behind the event was to reach out to nancial requirements of customers
Deepak Sood said.
students and mentors and make them
across a wide socio-economic spec-
aware of new-age frauds," a senior
trum, in line with the Government's
bank official said. YES Bank ties up with
vision of encouraging inclusive growth
Aadhar Housing Finance within the country," Lavesh Sardana,
Banks' gross NPAs may hit Yes Bank said it has partnered with country head - retail assets, Yes Bank
10-year low Aadhar Housing Finance Ltd to offer said.
home loans at competitive interest
Bad loans of Indian banks are ex-
rates to customers from lower and IBA considering 5-day
pected to decline 90 basis points to
middle-income groups. work week for bank staff
less than five per cent in FY23 and hit
a decadal low of sub-four per cent by With this partnership, both entities aim The Indian Banks Association (IBA) is
March 31, 2024, said an Assocham- to provide, convenient home finance considering bank unions' demand for a
Crisil Rating study unveiled. The study solutions such as home loan for salaried five-day work week but for which the
BANKING FINANCE | APRIL | 2023 | 5