Namrata Acharya / Jamshedpur March 29, 2009, 0:31 IST
State Bank of India, India’s largest lender, may cut interest rates in the new financial year on the back of a lower-than-expected credit growth.
SBI Chairman O P Bhatt said there should be some downward revision in lending as well as deposit rates in the new financial year. “There are enough indicators available on this. We have to decide the time and the extent of the cut,” Bhatt told reporters on the sidelines of the 53rd convocation ceremony of the Xavier’s Labour Relations Institute in Jamshedpur today.
The Asset-Liability Committee of SBI, he said, would take a call on interest rates as and when required.
The chairman said credit growth this quarter had been lower than expected. “We don’t know whether this is because of lack of demand or high interest rates,” he added.
Bhatt also said there was enough liquidity though there was a significant pressure on interest margins. “There is pressure on net interest margin. Because of various schemes we have introduced in the last two to three years, there has been an increase in the money flow into SBI, which is evident from our rising market share,” he said.
The growth in credit demand during the next financial year would depend on the global economic situation, the timely onset of monsoon and also the new government and its policy stance, he pointed out.
SBI, he said, was awash with liquidity and did not plan to go in for further capital raising. The bank in fact recorded Rs 1,000-crore deposit everyday in October-November, he said.
Meanwhile, inaugurating the bank’s 1,000th branch at Dhatkidih here, Bhatt said he was surprised at the high deposit figure. “No other bank has such a per day record and the figure is increasing.”
SBI has 43 per cent market share and the market cap of the bank was more than that of Citibank, he said.
Loan disbursement during the fiscal till December, too, registered an increase of two-and-a-half times over that of the corresponding period previous year.
SBI, he said, was the preferred bank for the people ranging from the agriculture sector, small and big industries and even self-help groups and for housing or personal loans. “We are opening SBI branches everywhere to ensure services to people from all sections.”
The bank had altogether 11,000 ATMs, which was likely to cross the 15,000-mark by next month, he added.
sir
please tell us about the delay in recruitment process of SBI clerical cader for the year 2009-10. 75000 candidates are waiting for the results and their fate. its almost 4 months now the interview was completed.
no official announcement is made by the sbi officilas. its making the candidates confused and lot of negetive rumours are being speread.
some people says that number of posts are increased and some says decreased and some says whole process is stopped some says about some legal case about the process and some says process delayed due to penssion problem etc...
sir at least declare the results so that we can wait peacefully for the appointment orders.
thanking you sir
with regards
tvs rao
Dear Sir,
Sub: Clarification Regarding Sister's Education Loan for MBA
I am presently working in IOCL and completed my 1 year of service.
My sister wants to apply for education loan amounting to Rs.6,00,000/-. She has scored 75% marks in 10th, 80% in 12th and 60% in Graduation B.Com and is applying for MBA in ISME, Navi Mumbai.
Is it necessary for my Father to be co-borrower?
Whether I can be co-borrower or not and what are the ways? If not, then if we apply for loan upto Rs.4,00,000/- only then also co-borrower is mandatory?
Sir, Please reply as I need the loan urgently and have been trying in SBI Branches in Varanasi and getting same replies:No or it will take time about 15 days or 20 days and my sister has to take admission in July only.
If any girl student wants to study and if her parents cannot fulfill the criteria of sufficient income then she will not get the loan or what?
complaint on Sbh-Alair,Nalgonda(Dist)
Good afternoon Sir, i(K.Shravan Kumar)am Savings account holder of SBH-Alair, Nalgonda(dist),Andhra Pradesh. Iam working as an Agricultural Extension Officer(Govt Employ),Alair.sir 3 months before i have taken a savings account from alair branch for the account opening itself they have taken so with this activities i have put for account transfer before 11 days to hyderbad, this one also they have not complited still today. when i tried for the enquiry they dont give the minimum respect to the customers, accountant Ramjeevan kumar is giving worest response and he scolds the customers he short tempered we are affraiading to enter in to the bank with manager and accountant, not only me many members are trying to give same complaint to u. so please take the action provide good service to the customers. thank u, shravan kumar.K
AMIT JAIN MORADABAD A/C NO 30430242288 THESE COMMENT ARE REGARING OUTSTATION DEPOSIT,AS PER SBI RULE WE CAN DEPOSITE IN CASH UPTO 100000/-IN CORPORATE BANKING. WE ARE MAKING LOSSES FROM YOUR BANK,DUE TO LACK OF KNOWLAGE ABOUT CORPORATE/PERSONAL BANKING SYSTEM, YOUR STAFF TAKE EVERY A/C AS PERSONAL BANKING WITHOUT CHECKING THE A/C NAME, AND HE TAKE MAXIMUM 25000/-,DUE TO THIS IRRESPOSIBLE BEHAVIOUR OF OUR STAFF WE HAVE TO BEAR MULTIPULE CHARGES, PLEASE GIVE ME RESPONSE AS SOON AS POSSIBLE
Sir,
I Ex JWO Shivagonda B Patil retired from IAF in Jun 2010. I have submitted my PPO alongwith life certificate and other all necesary documents in SBI Vimannagar Branch in the first week of Dec 2009. Till date there my pension benifis are not credited into my account. My PPO No is 08/14/B/13399/2009. Kindly look into the matter and do the needful. My con no is 9823704233. A/c no 30498781345.
To,
The Branch Manager
S. B. Of India,
Tikamgarh (M.P.)
Subject: For RTGS not reached in a/c 63037234359 from date ? 16/11/2009.
Sir ji,
I beg to say that I have on line transferred the amount Rs. 125000/- from my a/c 30398171264 Name: DATAPRO COMPUTERS to A/C 63037234359 Name: MAA KAILADEVI COMMUNICATION, MORENA by internet banking utr no. SBI1611090541480 but till date 18/11/2009 the amount not created in that a/c and also not return in my a/c. Please tell me that who will be responsible behind it because a huge amount is pending and not getting proper response.
Please pay attention on it and replay me as soon as possible.
"THANKING YOU"
? UTR print is also attached with.
Regards
manoj kumar jain
mobile- 09425145781
Dear Sir,
I wish to know that how your Organisation has taken to pay the pension to Defence retired service personnel and not at-all listening complaints if any. Mr G Madhav Rao, Branch Manager, SBI, Naval Base, Visakhapatnam did not take any action on my letter dated 26 Feb 2009 and now is transferred to some other branch.
ArunKumarShukla July 10 , 2009 ,17:48 IST
RAJESHWAR KUMAR GUPTA
Sir, I am wanted to know what's SBI policy for middle class customers because I have deposited Rs. 4500 in Mumbai main Branch( Fort) and my account is Mumbai D.N.Road Branch (Fort) why the bank deducted Rs.25 as ER CITY Charges.And when I asked the branch person ( CS) he is saying that you have deposited to another branch So, you have to pay Rs.25 as inter city charges but I am in Mumbai and I have Deposited in Mumbai main Branch so,why we'll pay inter city charges because I am in city.Thanks & Regards Arun Kumar Shukla A/C No. 30477686264, Branch Name, HARDOI UP. ,pls Reply
Sir, I am wanted to know what's SBI policy for middle class customers
because I have deposited Rs. 4500 in Mumbai main Branch( Fort) and my account is Mumbai D.N.Road Branch (Fort) why the bank deducted Rs.25 as
ER CITY Charges.And when I asked the branch person ( CS) he is saying that you have deposited to another branch So, you have to pay Rs.25 as inter city charges but I am in Mumbai and I have Deposited in Mumbai main Branch
so,why we'll pay inter city charges because I am in city.Thanks & Regards
Arun Kumar Shukla A/C No. 30640419611, Branch Name, Killick House ,D.N.Road
fort,Mumbai-400001,pls Reply
what is the position of omr(rural).pls think about my permanant position.some branches treated as a out of our position.pls chairman sir.pls cosider all omrs
Sir,
I am very sorry to say that I have already informed to my branch manager on dated ? 01/05/2009 ' that I was trying to withdraw cash amount Rs.1000/- from ATM(Union Bank, New Delhi Railway Station, Pahar ganj) but my cash had not come from ATM Machine,and I had try again but same thing happened So I could not get my amount Rs.1000/- but cash balance(Rs.1000 + Rs.1000= Rs.2000) has deducted from my account balance. Till now my account balance has not been updated.
So, I request you please make update my account balance.
Thanks & Regards
Afroj Alam
A/C No.: 30429163738
Debit Card No.: 6220180001300183074
Branch : Prisad Baza, Aurangabad-824101
Withdrawal ATM & Bank Detail
Date : 30/4/2009
Time : 06:30
Txn No: 2060
Union Bank
New Delhi Railway Station, Pahar Ganj,
New Delhi
Content Guide
The chairman said credit growth this quarter had been lower than expected. “We don’t know whether this is because of lack of demand or high interest rates,” he added.
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