Mumbai: State Bank of India, the country’s top lender, expects credit growth to pick up, chairman O.P. Bhatt said on Tuesday.
Indian banks’ loan growth has slowed to an annual 13% from 25% last year as the global financial crisis hurt. But with confidence returning, analysts expects a revival in the second half of the 2009-10 year.
Bhatt did not expect deposit rates to fall further and said the central bank’s decision to not increase the “hold to maturity” cap on investments was not a disappointment
Bhatt was speaking to reporters after the central bank’s policy review.