Credit card NPA increases to Rs.3,887 crore, RBI warns Banks

- Advertisement -

The Reserve Bank of India (RBI) has expressed concern over the rising trend of non-performing assets (NPAs) in the credit card segment. In the nine months ended December 31, 2022, NPAs in the credit card segment jumped by 24.5% to Rs 3,887 crore. This is despite the fact that credit card NPAs make up just 2.16% of the total credit card outstanding.

The RBI has attributed the rise in NPAs to a number of factors, including the economic slowdown, job losses, and the rising cost of living. The central bank has also warned banks to be more cautious in lending to borrowers with poor credit history.

In order to address the issue of rising NPAs, the RBI has said that it will be closely monitoring the credit card segment. The central bank has also said that it may consider increasing the risk weight on unsecured personal loans, including credit cards.

The rising trend of NPAs in the credit card segment is a cause for concern for the RBI. The central bank is taking steps to address the issue, but it remains to be seen whether these measures will be effective.

Here are some additional details about the NPA issue in the credit card segment:

  • The rise in NPAs is being driven by a number of factors, including the economic slowdown, job losses, and the rising cost of living.
  • The RBI has warned banks to be more cautious in lending to borrowers with poor credit history.
  • The RBI is closely monitoring the credit card segment and may consider increasing the risk weight on unsecured personal loans, including credit cards.

The NPA issue in the credit card segment is a serious concern for the RBI. The central bank is taking steps to address the issue, but it remains to be seen whether these measures will be effective.

➡️ Join Whatsapp Group
➡️ Read more news
- Advertisement -

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News...

Latest

Huge rush of customers in SBI, Women stand outside SBI since Night for KYC

Women stand outside SBI from 2 am at Night for KYC

ICICI Bank Manager accepts he conducted Rs 12 crore fraud by forging customer’s signature

ICICI Bank Manager accepts he conducted Rs 12 crore fraud by forging customer's signature

Standard Chartered Bank ordered to pay compensation for not updating CIBIL score of loan borrower

Standard Chartered Bank ordered to pay compensation for not updating CIBIL score of loan borrower

Retired Judges get only Rs.19000 pension, Court asks Govt to increase pension of Judges

Supreme Court asks Government to increase pension of retired Judges

CBI Court sentenced UCO Bank Manager to 5 years Jail

CBI Court sentenced UCO Bank Manager to 5 years Jail

PNB Bank union writes letter to PM Modi to introduce five day banking

PNB Bank union writes letter to PM Modi to introduce five day banking

What happened to Nithin Kamath, CEO of Zerodha?

What happened to Nithin Kamath, CEO of Zerodha?

SBI projects 14-15% loan growth, Read what SBI Chairman Dinesh Khara said

SBI projects 14-15% loan growth, Read what SBI Chairman Dinesh Khara said

Acid attack on Bank of Baroda Female Manager, Case transferred to Allahabad Court

Acid attack on Bank of Baroda Female Manager, Case transferred to Allahabad Court

High Court orders RBI to pay compensation for denying maternity leave of Female Employee

High Court orders RBI to pay compensation for denying maternity leave of Female Employee