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State Bank of India Sees Credit Growth Slowing This Fiscal Year

A State Bank of India Bank (SBI) branch in Mumbai. 

A State Bank of India Bank (SBI) branch in Mumbai. 

Photographer: Dhiraj Singh/Bloomberg

State Bank of India , the country’s largest lender, expects credit growth to slow in the financial year started April 1 because demand remains subdued, Chairman Rajnish Kumar said.

Credit growth in the current financial year will be between 12% and 14%, compared with about 14% in the previous 12 months, he told the media in Kolkata.