SBI sees no challenge on deposit growth, says Chairman Dinesh Khara

"As long as we can support the loan book growth well, I don't think so we have any challenges. Khara said.

The country’s largest lender, State Bank of India (SBI), does not see any challenge to its deposit growth, said Chairman Dinesh Khara. “We are in a position to support our loan book growth well and I think so long as we can support the loan book growth well, I don't think we have any challenges,” he said on the sidelines of an event in Mumbai on August 23.

In the first reporting quarter of fiscal year 2024-25, SBI recorded an 8.18 percent on-year growth to Rs 49.02 lakh crore, compared to Rs 45.31 lakh crore last year. However, on a sequential basis, the bank's deposits fell marginally by 0.29 percent.

In addition, when asked about the challenge of deposit growth in the banking system and the booming mutual fund industry, Khara said that generally the banking system is bigger than that of the markets in the developing countries.

“If you look at the United Kingdom, the banking system continues to be bigger than the markets. So, I think much of it will be the choice of the investors and the kind of products which will be rolled out by the banking system,” he added.