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New Google Pay app to offer Indians quick loans

Wednesday, August 29, 2018, 8:02 PM

On Tuesday, Google announced that it would be partnering with a bunch of Indian banks to bring instant quick loans to the masses as part of its Next Billion Users initiative. The move saw the Google Tez app being rebranded to Google Pay, and soon users will be able to avail loans from various banks via the app.
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SBI to sell two NPAs worth Rs 2,490 crore

Sunday, August 12, 2018, 5:03 PM

SBI will sell two non-performing assets (NPAs) worth about Rs 2,490 crore and has invited bids for them. The two accounts on sale are -- Bombay Rayon Fashions Ltd which owes Rs 2,260.79 crore to the bank. The second account, Shivam Dhatu Udyog Pvt Ltd, has to repay Rs 229.32 crore. The loan dues from Bombay Rayon excludes equity investment.
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PNB to concentrate processing of big loans to 60 designated branches

Wednesday, July 4, 2018, 10:03 PM

Fraud-hit PNB has decided to designate 60 systematically important branches (SIB) to carry out all lending operations of above Rs.50 crore to ensure better checks and balances over large accounts. The bank will create these SIBs across the country as part of its credit restructuring exercise. "The bank is in the process of shifting most of the large accounts to SIBs," PNB said.

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