SBI Sends Chocolates to Default-Risk Borrowers in Friendly Loan Reminder Effort

SBI is sending chocolates to borrowers likely to default to remind them of repayment obligations in a friendly manner.

This unique approach aims to improve loan recovery rates as retail lending and delinquencies rise.

SBI's retail loan portfolio grew over 16% to Rs 12 lakh crore in June 2022 quarter.

Retail loans are now SBI's largest asset class, making up Rs 33 lakh crore of total lending.

SBI is using AI-based fintechs to identify borrowers likely to default and have representatives visit them with chocolates.