He expressed confidence of stronger Indian economic growths in the coming years, driven by will-power and determination of the young Indian population, the consumer spending and infrastructure investments.
Bhatt also said that the rural economic expansion was already taking place, with wide ranging micro-financing schemes, supporting revenue generating avenues and enterprises for the villagers. As such, SBI was expanding its rural network through mobile-banking and cell-phone links, said Bhatt.
Having already spread well across
He expects emerging Indian markets of middle-income population to double to 800 million over the next five to eight years from the current estimated 300-350 million.
This middle-income population would create another strong demand for higher quality goods and lifestyle, all of which would be met by young Indian entrepreneurs that are already in the making, he stressed.
To match with such new demand, SBI has been adding 1,000 branches and setting up 10,000 Automated Teller Machines every year, he said.
Bhatt also showcased in Singapore SBI-SG Global Securities Services, a SBI joint venture with Societe Generale of France to market financial trade packages, depositories and equity futures in India.
Thursday, May 6, 2010
Inflation to slow down to 5.5% by March 2011: O P Bhatt
Industry Research Reports
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