SBI aims 19-20% credit growth this fiscal

Country's largest lender State Bank of India (SBI) is aiming to post a credit growth of 19-20 per cent in the current financial year. "The target (for credit growth) is 19-20 per cent (this year), which was 18-20 per cent (last year)," Chairman, Pratip Chaudhari said on Thursday. In the last financial year, the public sector lender had reduced its credit growth target to 16-19 per cent from an estimated projections of 19-22 per cent at the beginning of the year. Lowering of growth targets was mainly due to lack of demand from corporates owing to economic slowdown in general.