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

CBSE Introduces AI Curriculum On Computational Thinking For Classes 3-8: Everything You Need to Know

At Vigyan Bhawan, New Delhi on the 2nd of April, 2026 Honorable Union Minister for…

1 hour ago

GK Quiz on Good Friday 2026, Questions and Answers

Good Friday 2026, observed on April 3, is one of the important day of the…

1 hour ago

Nitish Kumar to Take Rajya Sabha Oath on April 10 – What’s Next?

Chief Minister of Bihar Nitish Kumar is set to take oath as a Rajya Sabha…

2 hours ago

Which is the largest Coriander Producing State in India?

Coriander is a very common spice used in almost every dish. It has a fresh…

2 hours ago

IAS Chanchal Kumar Takes Charge as I&B Secretary – What It Means for Media

Shri Chanchal Kumar has taken charge as the Secretary of the Ministry of Information and…

3 hours ago

Sand Artist Sudarshan Pattnaik Appointed Brand Ambassador for India Census 2027

The Government of India has appointed the Famous Sand artist Mr. Sudarshan Pattnaik as the…

4 hours ago