Business Ideas
Credit growth of 18% possible, says K V Kamath
Indian banks might meet the Reserve Bank of India’s projection of an 18 per cent growth in credit, K V Kamath, chairman of the country’s second largest lender ICICI Bank said in Mumbai today. - IT projects in city on the back burner - Wkly Tech Analysis: Market likely to drift lower - Mukesh Ambani ranked 5th best CEO in the world - Mukesh Ambani ranked 5th best CEO in the world - Moody"s upgrades FC deposit ceilings of 14 Banks - ICICI"s UK arm accused of mistreating whistleblower: report “It is a growing economy so 18 per cent credit growth should be possible. However, as long as output and investment do not suffer I will not worry even if we don’t meet the target,” the former CEO of ICICI Bank said on the sidelines of a seminar. Banks have given out Rs 1,82,000 crore of loans in the financial year up to December 4—a 6.2 per cent growth over the figure at the end of 2008-09. They will have to lend an additional Rs 5,28,390 crore in the fourth months up to March 31, 2010 to meet RBI’s projection of a 18 per cent growth for 2009-10. The year-on-year rate of growth in credit as of December 4, 2009 was 10.5 per cent. According to Kamath, Indian companies were relying on internal accruals as well as the buoyant capital markets to fund new projects and using bank credit as a supplementary source of funds. “This is particularly true in the manufacturing, cements and auto sectors. Only infrastructure companies are relying on banks to fund projects,” he added. Kamath also said the amount of liquidity in the system was not reflective of the current rate of growth.Faxless Loans commented:
These figures show that the people are taking credit and for this they are going for the loans and therefore only there is that much rise in the credit.
29.07.2011
Cash loans commented:
This shows that people need the credit therefore they are taking it and without any hesitation which gives the market a news trend
30.08.2011
sameday loans commented:
ICICI bank is one of the cheater I found as cheat their customers by promising false plans and hide about the hidden charges.They not only cheat their customers but also employees.Many students were hired from business college and offer job and the description of was entirely different from the one offered.
22.09.2011