State Bank of India (SBI) said it sees little impact on the balance sheet from the $5 million exposure to Lehman Brothers. The bank is expecting to recover 60-70% of the exposure. Although interest rates may not fall immediately, the bank would be comfortable with a loan growth of 24-25% in FY09.
SBI officials confirmed that while deposit growth has been robust, liquidity may stay tight, and also warned that bad debt in the Indian banking sector may rise.
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