State Bank of
DSRK Saibaba, assistant general manager, SBI, informed media persons, “Though we have mobilized Rs 874 crore up to December, we are way behind our targets in issuing advances. Without giving more advances, collecting more deposits by paying higher interest rates is meaningless; hence we are putting more emphasis on low-cost and no-cost deposits.”
However last fiscal low-cost deposits amounted to 40 per cent of the total deposits. This year the bank is looking at 45 per cent.