According to Mr. O.P. Bhatt, Chairman, SBI, the credit growth of SBI is expected to be 22 to 23 percent this fiscal, as against the 18 percent registered in the last financial year. SBI expects credit off take on higher side with industries across the country working at 80 percent capacity, close to the peak of 85 percent.
Besides, agricultural and retail sector would be good in the second quarter, while infrastructure and capital expenditure would pick up, pushing the credit growth higher to 22 to 23 percent, Bhatt said.
Asked about the possibility of interest rate moving up, Bhatt, said there was little change of interest moving up. The base rate was expected to settle around eight percent, he said.
Stating that the merger of State Bank of Indore would be materialised by June, he said the merger issue of other subsidiaries would be taken case by case.
On Non-Performing assets, Bhatt said rate of formation of NPA is coming down and if the recovery of agriculture sector is good, it would come down further.
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