SBI Chairman CS Setty expects 0.5% December rate hike
SBI Chairman CS Setty thinks we'll see a 0.5% (50 basis points) interest rate hike this December.
He admits higher rates could make some types of borrowing tougher, but he's confident that overall credit growth will stay solid thanks to India's healthy 7.1% economic growth outlook.
SBI upgrades tech, targets 300 million customers
Setty shared that more people are shifting their savings into investments, which might ease the rush for deposits as the liquidity RBI has been providing.
To keep up with massive UPI traffic and boost security, SBI is ramping up its tech game: think smarter risk management, AI-powered check processing, and better digital services through YONO.
The bank also has a bold goal: connect 300 million customers (including third-party UPI users) by 2030 using these new tools.