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| State Bank of India said that closing down of pre-payment charges on home loan will not affect business. Pre-payment charges make hardly any contributions to the revenue stream, SBI announced to do away with pre-payment penalties on housing loans with immediate effect. It had been charging about 2% of the outstanding amount as penalty if borrowers opted to foreclose their loans. The key takeaways from the interview Pre-payment penalty measure to prevent malpractices Pre-payment penalty not a revenue stream Abolition of this (pre-payment) penalty won't affect business Savings bank growth continues at its usual pace Have about Rs 35,000 crore of restructured accounts Microfinance (MFI) loans portfolio quite secure Exposure to MFI loans stands at Rs 800-1000 crore, as of now Don't see MFI crisis as systemic issue
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| home loan, housing loans, pre payment charges, sbi |
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