SBI aims to retain the top slot in Home loans

SBIWith a target of around Rs 23,000 crore in the new financial year, State Bank of India (SBI) is aiming to retain its pole position in the home loans category.

With a bullish target in mind experts believe that it will be tough to clock the Rs. 23,000 figure amidst a rising interest rate regime. But the largest bank in the Indian market is also taking an innovative approach to the same by tweaking its flagship 8% interest rate scheme and other innovative loan targets with an aim to meet its target in the current fiscal.

With a growth targeted at Rs. 5,000 crore more as compared to last fiscal earnings of Rs. 17,437 crore, the bank is also aiming to build a stronger retail book in the Indian market.

Notably, the bank has promised a retail growth of over Rs. 35,000 crore during the financial year, including automobiles, education and personal loans. With the automotive sector being the second most important area for the public sector major, it is expected to generate around Rs. 3,400 crore with help from tie-ups with automakers like Maruti, GM and Honda.