Banks expect double-digit growth in retail loan book this festive season

See uptick in retail loan book; expect 10-12% credit growth this festive season

The largest public sector bank, State Bank of India (SBI), expects its retail loan book to grow substantially this festive season. Speaking on the sidelines of the bank’s event, Chairman Rajnish Kumar said, “The retail credit growth is looking promising. It is expected to be in the range of 10-12 per cent this festive season.”

Compared to last year, the retail loan book of SBI has grown by 18.68 per cent till June 2019. Due to slowdown in the economy, the first two quarters of 2019-20 have been slow for retail loans. According to the Reserve Bank of India data,