CSB Bank tightens gold loan policy after NPAs

The 100-year-old CSB Bank, which is majority-owned by Canadian billionaire Prem Watsa’s Fairfax group, had announced plans to transform itself into a new-age bank. After a clean-up of loan books and infusion of capital, the bank decided to focus on gold loans until the transformation is in place. Last year, its gold loan business rose 60% with the share of such loans rising to 40%.

from Markets-Economic Times https://ift.tt/2UyEGHN