Of this, retail loans registered a growth rate of 18.58 per cent, while corporate advances improved by 10.57 per cent year-on-year at the end of June quarter.
SBI Chairman Dinesh Kumar Khara also said that the bank will soon come out with this yono Which is YONO 2.0 with many more advanced features and functionalities.
“The bank’s digital leadership journey continues. More than 96.6 per cent of transactions are now done through alternative channels. The registered users on YONO have already crossed 5.25 crores, which is a big milestone and has helped the bank. has created a significant value.. Sixty-five percent of new savings accounts are opened through YONO,” he said in a recent analyst call.
On maintaining the 15 per cent credit growth, he said, “I sincerely hope that the reason behind this is kind of term loans and under-utilisation of working capital, which is around Rs 5 lakh crore, and the pipeline is around 1.2 lakh. Rs. Crore. So, I sincerely hope that we will be in a position to sustain this in the subsequent quarters.”
The corporate book should grow by around Rs 2.5-3 lakh crore during the year, he said, adding that even SMEs (small and medium enterprises) have traction and the pipeline is being built.
With the latest rate hike by the RBI, the repo rate (the short-term lending rate at which banks borrow from the central bank) rose to 5.40 per cent, an increase of 140 basis points from May this year.
On the current economic situation, Khara said that due to the massive immunization program of the government, the impact of the COVID pandemic has reduced to a great extent.
He said the economy is almost on track with most countries resuming air travel and removing other containment measures.
However, he added, the volatile geopolitical situation is still a downside risk. Global production shrank in the second quarter of this year due to slowdowns in China and Russia.
He said the Indian economy remains resilient despite global constraints that have resulted in rising inflation, rising crude oil prices, rising commodity prices and supply chain disruptions.