Money & Banking

SBI lures tweeple with ‘hai-nahi hai’ campaign to grow retail loans

K Ram Kumar Mumbai | Updated on February 19, 2021

The bank wants to expand personal, gold, and car loan portfolios as the non-performing asset level are below one per cent.

State Bank of India (SBI) has posed three crucial questions to its current and prospective customers relating to “Bride and Budget for marriage”, “Business idea and Investment”, and “Trip and Car” as part of a ‘hai-nahi hai’ (have-don’t have) campaign.

In a racy Twitter campaign, India’s largest bank has specifically asked tweeple questions in Hinglish (mix of Hindi and English) such as: “Shaadi ke liye bride hai but budget nahi” (you have a bride but no budget for marriage), “Business ke liye idea hai but investment nahi” (you have a business idea but no money to invest), and “Doston ke sath trip pe jaana hai par car nahi hai” (you want to go on a trip with friends but don’t have a car).

And SBI gives a ‘not to worry’ assurance to tweeple as it has answers to the aforementioned questions in the form of products -- personal loan for a marriage, gold loan for business and a car loan for the road trip with friends.

The bank wants to expand loans in these three segments as the non-performing asset (NPA) level is below 1 per cent.

In the third quarter of FY2021, SBI’s Xpress Credit (personal loans) portfolio reported a 36 per cent year-on-year growth and stood at ₹1,77,366 crore as at December-end 2020. NPA in this portfolio was at 0.36 per cent.

Auto loans, including car and two-wheelers, nudged up about 3 per cent YoY and stood at ₹75,937 crore as of December-end 2020. NPA in this portfolio was at 0.73 per cent.

Personal gold loans portfolio soared about 559 per cent YoY to ₹17,492 crore. NPA in this portfolio was only 0.04 per cent.

Published on February 19, 2021

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