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2010-01-12

SMEs may have to pay more interest

According to, OP Bhatt, Chairman, State Bank of India, the interest rates on loans might go up in the coming months. He added that loan defaults from the SME segment may rise in the six months as the

According to, OP Bhatt, Chairman, State Bank of India, the interest rates on loans might go up in the coming months. He added that loan defaults from the SME segment may rise in the six months as the non performing assets (NPAs) are rising.

 

The chairman said at the banking conference ( BANCON), “Inflation is rising and there are fears that regulatory action may lead to hardening of interest rates.”

 

Bhatt also expects an 8 per cent economic growth for India, which may go up to 10 years in the succeeding years.

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