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Tuesday, November 29, 2011

SBI expects 18-19% credit growth in FY12

State Bank of India (SBI), the country's top lender, expects demand for loans to rise 18-19% in the current fiscal to March, a senior official said on Tuesday, despite a series of interest rate increases by the central bank.

The state-run bank has submitted a few options to the Indian government for raising funds, SBI's Managing Director A Krishna Kumar told reporters on the sidelines of a banking event here.

SBI needs to raise Rs 8,000 crore before March to maintain Tier-I capital adequacy ratio of 8% and is seeking government help to raise the funds.

Source: Business Standard


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