Categories: Banking

SBI Crosses Rs 5 lakh Crore Personal Banking Loan Advances

SBI announced that its personal banking advances excluding high value home loans have crossed the ₹ 5 lakh-crore mark. The largest lender in the country took a year to book the last ₹ 1 lakh crore of advances, as against over 15 months for the previous ₹ 1 lakh crore and over 30 months for the previous ₹ 1 lakh crore, as per an official statement.

Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks

What Has Been Said:

“A series of tactical measures and digital initiatives undertaken over the past few years played a crucial role in our journey to the ₹ 5 lakh-crore mark under personal banking advances,” the bank’s chairman Dinesh Kumar Khara said.

Dinesh Kumar Khara stressed that the ₹ 5 lakh crore excludes housing loans, where the bank has the numero uno position in the market. Personal Banking advances mainly comprise personal loans, pension loans, auto loans, education loans, gold loans, and other Personal loan products, the statement said.

Contradictory Development:

Despite an increase in borrowing cost, following a 190 basis points hike in repo rate since May this year, banks personal loan segment has seen a healthy growth this year. The segment witnessed a growth of 20 per cent in September and 20.2 per cent in October, largely driven by housing and vehicle loans, according to the Reserve Bank’s sectoral deployment of bank credit.

Piyush Shukla

Share
Published by
Piyush Shukla
3 years ago

Recent Posts

Weekly One Liners 15th to 21st of December 2025

Weekly Current Affairs One-Liners Current Affairs 2025 plays a very important role in the competitive…

3 hours ago

World Basketball Day 2025 Celebrates Basketball’s Journey to Global Fame

World Basketball Day 2025 highlights the remarkable journey of basketball from a simple indoor game…

18 hours ago

UN Celebrates Second World Meditation Day to Promote Inner Peace Worldwide

The United Nations marked the second World Meditation Day on the 21st December with a…

18 hours ago

Winter Solstice 2025 Observed on Sunday, Bringing the Year’s Shortest Day

The Winter Solstice 2025 occurs on Sunday, December 21 marking the shortest day and longest…

18 hours ago

Haryana Assembly Passes Resolution to Commemorate 350th Martyrdom Year of Guru Tegh Bahadur Ji

The Haryana State Assembly has unanimously passed a resolution to mark the 350th martyrdom year…

1 day ago

Which Country is Known as the Land of Cherry Blossoms?

Every country has something special that makes it famous around the world. Some are known…

1 day ago