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
4 years ago

Recent Posts

Current Affairs Capsule PDF (23 June 2026)

National News Tushar Mehta Reappointed as Solicitor General of India The Government of India has…

9 hours ago

Kunal Shah Net Worth in Rupees: How Rich Is the CRED Founder and WhatsApp’s New Chief?

After reports of Meta’s major investment in CRED and Kunal Shah’s leadership move connected with…

11 hours ago

Chennai Petroleum Corporation Limited Granted The Navratna Status

Chennai Petroleum Corporation Limited (CPCL) which is India's one of the leading oil refining companies…

12 hours ago

Aadhaar App Crosses 31 Million Downloads in Just Five Months

The newly launched Aadhaar App has crossed the 31 million downloads within just five months…

12 hours ago

World’s Tallest Lionel Messi Statue Unveiled in Argentina as a Historic Tribute

As Lionel Messi become the FIFA World Cup top scorer in the history of the…

13 hours ago

FIFA World Cup 2026: Lionel Messi Becomes All-Time Leading Goal Scorer, Mbappé Narrows the Gap

The FIFA World Cup 2026 has added another historic moment to football’s biggest stage as…

14 hours ago