ALSO READSBI's capital raising credit positive, removes dependence on govt: Moody's Low credit growth, high GDP suggest decoupling: SBI 2 held for conning people by creating fake SBI site to sell credit cards Shriram Transport Finance Q1 net up 20% at Rs 448 cr Record low credit growth: 1,000 cos borrowed Rs 1 lakh cr less in FY17
Country's largest lender State Bank of India (SBI), reeling under huge stressed assets like other banks, is hopeful that going forward it would be able to control fresh slippages
"Going forward, fresh slippages will be under control. Specifically from September onwards, things will become better," MD (national banking group) of SBI Rajnish Kumar said.
Kumar said that gross NPA was 9.93 per cent of its total lending, which was roughly Rs 1.90 lakh crore.
"We are rather concerned with the net NPA which is at three per cent now," he told reporters on the sidelines of a CII meet here on Saturday.
The ideal net NPA level should be 1.5 per cent, he said.
During the current financial year, the bank's credit growth is pegged at six to seven per cent, he said.
Regarding resolution of stressed assets, he said that there was need to improve the infrastructure in the first place.
Presently, there are only 11 National Company Law Tribunal benches across the country and 25,000 insolvency cases were pending.
Since the resolutions would have to done in a time-bound manner, the number of benches would have to be increased, he added.