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Bandhan Bank Has High Hopes for GST
July 04, 2017
Bandhan Bank, which mainly caters to small and micro enterprises through lending services, expects to greatly benefit from the GST rollout.
Chandra Sekhar Ghosh, CEO and managing director of Bandhan Bank said GST will help them in obtaining the transaction details of their borrowers, which will help in increasing transparency and minimize NPAs.
Ghosh said that credit growth of traditional banks dropped by 5.1% last year, although that of NBFCs increased by 15% to 20%. This was mainly because the banks were dealing with high-value bad loans. Surprisingly, Bandhan Bank observed a 100% repayment rate.
