State-run Indian Bank has set a recovery target of Rs 8,000 crore. The bank expects a loan book growth of 12 per cent in 2023-24 (FY24). SHANTI LAL JAIN, managing director and chief executive officer, Indian Bank, in conversation with Shine Jacob, talks about the worries in the micro, small and medium enterprise (MSME) segment, corporate credit growth, and guidance for FY24. Excerpts:
Your dependency on retail, agriculture, and MSME (RAM) is 62 per cent. What is your strategy?
Risk is well-spread, which is why we continue to maintain profit. Retail is growing by 13 per cent, home loans (including mortgage) by 11 per cent, automotive loans by 28 per cent, and personal loans by 46 per cent. Crop loans and