Public sector lender, Indian Bank, is targeting an advances growth of up to 28 per cent this fiscal as demand for credit is healthy, a top bank official said.
"We expect a credit growth of 27-28 per cent this year," the Chennai-based bank's Chairman and Managing Director, T M Bhasin, told reporters on the sidelines of an event here today.
Bhasin said the bank has been achieving a credit growth in the similar region (between 27 and 29 per cent) over the past five-years and will be able to achieve a similar performance this fiscal as well.
The bank plans to sell a part of its non-performing assets in the next 7-10 days and expects to get a valuation of 41 per cent on the bad assets.
Bhasin welcomed the Reserve Bank's decision to keep its key rates unchanged in the mid-quarter review of the monetary policy today.
"RBI has always been judicious and its decision to decrease the statutory liquidity ratio by 1 per cent will definitely infuse more liquidity in the system," he said.
