SBIs credit off-take at Rs 3,000 cr: Ballabh
By Our Banking Bureau | 09 Sep 2002
Mumbai:
State
Bank of India has registered Rs 3,000-crore off-take in
credit in the first five months of the current fiscal,
says SBI chairman Janki Ballabh.
Ballabh says the credit pick-up is encouraging unlike the same time last year when the bank was actually recording a negative growth in credit. We are confident that we will be able to meet our target of disbursing Rs 7,000 crore through our retail segment by the end of this financial year.
Despite cutting interest rates on housing loans twice in a span of two months, Ballabh says there might be room for further reductions in housing loan rates. Cost of funds and transactions are coming down and the benefits can be passed on to customers.
SBI cut its housing loans by 50 basis points across the board last month. Apart from the rate cuts, the bank also waived its processing charges of half a percentage for a limited time.
