What are your plans for the bank during the current fiscal? How is the deposit growth and credit offtake?
This year we are looking at growing our deposits by about 16%-18% and credit by about 22%-25%. Our credit deposit ratio is about 68% at this point in time and we want to take it up to about 74%. In absolute terms, during the year our deposit level will go up to Rs 46,500 crore, while advances will be at the Rs 34,500 crore level against the present level of Rs 41,000 crore and Rs 28,200 crore respectively. We started the financial inclusion project last year and we intend to continue with that in the current year. Education has been one of the areas which we strongly believe in as we think that no one should be deprived of education for non-availability of funds. So we will focus on that segment. Vehicular financing is one other area of focus. The bank has memoranda of understanding with lot of institutions and many of them are getting added everyday. Through this arrangement, all students attached to a university or college will be covered for education loan at same rate of interest.
