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Source: media reports

PNB sees 20% credit growth in 2009-10

PNB sees 20% credit growth in 2009-10
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First Published: Mon, Mar 23 2009. 12 30 PM IST
Updated: Mon, Mar 23 2009. 12 30 PM IST
Mumbai: Punjab National Bank expects a 20% credit growth in 2009-10 but is likely to adopt a cautious approach to lending, chairman KC Chakrabarty said on Monday.
“We need to utilise credit in an efficient manner and we will be cautious in lending to over-leveraged sectors,” Chakrabarty said, but did not specify any sector.
If Reserve Bank of India cut rates further, his bank would examine opportunities to lower rates, he said, adding the bank would not slow down its spending on technology.
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First Published: Mon, Mar 23 2009. 12 30 PM IST