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Merger of the big PSU banks into a mega bank

Posted on 31 August 2019

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Progress since Announcements on 23.8.2019

Quick Follow-up on Measures Announced on 23.8.19

Announcements

  • Banks to launch Repo rate linked loan products
  • Customer Ease: Time-bound return of loan documents
  • Customer Ease: Online tracking of loan applications
  • Transparent One Time Settlement (OTS) Policy
  • Support to NBFCs/HFCs: Partial Credit Guarantee
  • Co-origination of loans by PSBs jointly with NBFCs

Actions initiated

  • 8 PSBs have launched repo-linked home/vehicle/mortgage/cash-credit loans
  • Instructions issued. To be enforced through CBS. Regional Managers responsible.
  • Implementation initiated with Retail/MSME on Loan Management Systems
  • Instructions issued
  • Sanction begun with Rs 3,300 crore and Rs 30,000 crore more in pipeline
  • Bank-NBFCs tie-ups with 4 NBFCs already in place. More in pipeline.

To read more in details, find the enclosed file

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