SBI sees credit demand from infrastructure, power sectors

Mumbai: There is a good demand emerging from infrastructure and power sectors, says State Bank of India chairman A K Purwar. "A lot of efficient power producers are scaling up capacities."

Purwar says over the past three years corporates, in general, have become far more efficient than what they were earlier, therefore their dependence on banks is lessening for regular finance.

On credit off-take, he says the economy is showing positive signals and bank advances have grown in excess of 12 per cent on a year-on-year basis (September 2002-03). "Most of the growth has been on the bank's global balance-sheet size."

During the same period, SBI had recorded over a 40-per cent growth in retail advances, while corporate credit has not seen much growth, he says. "We expect that to change by the end of this year."