SBI expects 16-18% credit growth in FY13

In the second quarter, credit growth of banks stood at 0.1-16.4%, according to the Reserve Bank of India

State Bank of India (SBI) deputy managing director S B Nayar today said despite a slowdown in credit offtake, the bank expected loan growth of 16-18 per cent this financial year.

On corporate loans, Nayar said sectors doing well in terms of credit offtake included ports, consumer goods and cement. However, there was concern on a few sectors, including road and powers, he added.

In the second quarter, credit growth of banks stood at 0.1-16.4 per cent, according to the Reserve Bank of India.