Idfc first bank is lending recklessly. Yesterday I received a phone call from saying that they will give a top up loan on my car loan if I port my car loan to their bank. Like if I have 10 lakhs loan with xyz bank the idfc will take over it and will offer another 10 lakhs as top up. My car value itself is 12 lakhs and they are ready to offer 20 lakhs loan on it. They are lending like there is no tomorrow. This kind of behavior will not end up well.during credit up cycle everything looks like rosy. Real quality of portfolio is revealed during a crisis. I don’t want to be with these kind of reckless lenders hence Exited the stock completely.
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