You are here: Home » Finance » News » Banks
Business Standard

SBI's credit growth is pegged at 6-7 per cent: MD Rajnish Kumar

Already reeling under huge stressed assets like other banks, he said things would become better

Press Trust of India  |  Kolkata 

State Bank of India
State Bank of India

Country's largest lender of India (SBI), reeling under huge 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 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.

The was also aiming at higher provisioning which would be aided by increased earnings, he said adding that the present was 60 per cent.

Kumar said that reduction in NPA levels as a percentage of total would only happen when the increases.

During the current financial year, the bank's is pegged at six to seven per cent, he said.

would also raise money from to fund clean projects, he said.

Regarding resolution of stressed assets, he said that there was need to improve the in the first place.

Presently, there are only 11 National Company Law Tribunal benches across the country and 25,000 cases were pending.

Since the would have to done in a time-bound manner, the number of benches would have to be increased, he added.

First Published: Sat, September 16 2017. 16:40 IST