SBI raises target for buying NBFC retail loans to Rs 450 bn from Rs 150 bn

At present, the SBI's guidance for credit growth in FY19 is 10%

Flush with funds, country’s largest lender State Bank of India has tripled its target to buy good quality retail asset portfolio from finance companies to Rs 450 billion from earlier target of Rs 150 billion.

While it provides liquidity to finance companies facing resource crunch, the SBI gets an opportunity to expand loan book at higher pace.

Chairman Rajnish Kumar said the bank has stepped up target for purchase of good quality portfolio of assets from NBFCs. There is a good opportunity to expand its loan portfolio at attractive rates. This will also provide much needed funding support to the