The country's largest lender, State Bank of India (SBI), plans to raise Rs 10,000 crore by December, a top bank official has said."We plan to raise Rs 10,000 crore by December and we are evaluating various options of fund-raising," SBI Chairman O P Bhatt told reporters on the sidelines of a banking conference here on Wednesday.
The process of consolidation within the SBI group had been kicked off recently with the decision to merge State Bank of Saurashtra with the group.However, no timeframe has been set for consolidation with the other associate banks of SBI.
Bhatt said there had been a fall in credit demand but this month has seen a pick-up.
On NPAs, he said the issue was not a concern for the industry at the moment. However, with the economy growing at nine per cent in the last two years and with bank credit growing at 30 per cent in the last four years, substantial assets had been built up.
Read more in The Economic Times article.
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