NEWS & ADVICE : HOME LOANS
SBI to restrict the consolidation process to its associate banks
By Joseph Samson
Nov 26, 2012
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India's largest lender, State Bank of India will restrict the consolidation process to its five associate banks, said Mr. Pratip Chaudhuri, Chairman of SBI.

Mr. Chaudhuri said, "There is nothing on the cards (consolidation) unless we are very comfortable in terms of capital."

Talking on the proposed Rs 8500 crore right issue, SBI Chief said that the bank will have a detailed consultation with the Finance Ministry next week as they have to subscribe to their portion of the issue.

In the last meeting, the Asset Liability Committee decided not to change the base rate. A decision on revising the base rate will be taken in the first week of December by the panel once the November net interest margin numbers come in. The SBI Chairman said that reports of Kingfisher Airlines' group company's (United Spirits) capital raising plans cannot be the basis for taking a view on the financially troubled airlines. "Kingfisher Airlines as a company has not given us any information on the infusion of capital so far", Mr. Pratip Chaudhuri said.

Banks have increased its daily average loan disbursement to Rs 150 crore as against Rs 65 crore per day last year. Mr. Pratip mentioned that the bank's home rate is the lowest in the country at 10 per cent and he said that it was not the loss making segment.


 


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