homebusiness News

Most borrowers have started paying; collection efficiency at 80 85%, says CSB Bank

business | Oct 20, 2020 9:56 AM IST

Most borrowers have started paying; collection efficiency at 80-85%, says CSB Bank

Mini

“Today our collection efficiency has improved between 80 percent and 85 percent,” said CVR Rajendran, MD and CEO of CSB Bank in an interview with CNBC-TV18. “Out of our books, Rs 2,000 crore is the amount, which was availed to the moratorium, that is the total outstanding in the moratorium availed accounts. Upto August 47 percent was the collection in these accounts also, only 1.24 percent have not paid all the six instalments, most of them have started paying in the month of September,” he said.

“Today our collection efficiency has improved between 80 percent and 85 percent,” said CVR Rajendran, MD and CEO of CSB Bank in an interview with CNBC-TV18. “Out of our books, Rs 2,000 crore is the amount, which was availed to the moratorium, that is the total outstanding in the moratorium availed accounts. Upto August 47 percent was the collection in these accounts also, only 1.24 percent have not paid all the six instalments, most of them have started paying in the month of September,” he said.

Recommended Articles

View All

The Reserve Bank of India (RBI) has increased loan-to-value (LTV) to 90 percent for banks and gold loans. Speaking about the impact on the business he said, “Our LTV used to be 63 percent before rising and now it is at 71 percent. It may not go further, 73-74 percent we may raise.”
“We are anticipating 25 percent loan growth for the current year,” he said.
Net interest margins (NIMs) will be maintained at 4.5 percent. “Margins will continue to be the same. We are almost at 4.49 percent for the last quarter and that should be maintained,” he added.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng