RBI targets 25% growth
New Delhi, May 6 : State-run lender Central Bank of India is targeting a 25 per cent growth in advances during the ongoing fiscal, much higher than the Reserve Bank expectations, as it expects economic growth to pick up.
"We expect FY13 to be a better year and have set a target of 25 per cent growth on credit and 20 per cent on deposits," bank's chairman and managing director M V Tanksale said.
Without divulging the credit and deposit growth for the recently concluded FY12, Tanksale said the fiscal was a difficult one given the slowdown in the economic activity.
Sector regulator Reserve Bank of India has said it expects the overall system to clock a 17 per cent growth in deposits and credit for FY 13.
According to the RBI data, the non-food credit growth, clocked by commercial banks stood at 17.1 per cent for FY12, lower than the year ago period's 20.6 per cent.
Lastupdate on : Sun, 6 May 2012 21:30:00 Makkah time
Lastupdate on : Sun, 6 May 2012 18:30:00 GMT
Lastupdate on : Mon, 7 May 2012 00:00:00 IST
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