On Monday, it was announced that its personal banking advances excluding high value have crossed the Rs 5 lakh-crore mark.
The largest lender in the country took a year to book the last Rs 1 lakh crore of advances, as opposed to over 15 months for the previous Rs 1 lakh crore and over 30 months for the previous Rs 1 lakh crore, as per an official statement.
A series of tactical measures and digital initiatives undertaken over the past few years played a crucial role in our journey to the Rs 5 lakh-crore mark under personal banking advances, the bank chairman Dinesh Kumar Khara said.
The bank has the number uno position in the market because of the fact that the 5 lakh crore excludes housing loans, according to Khara.
Personal banking advances are mainly comprised of personal loans, pension loans, auto loans, education loans, gold loans, and other personal loan products, according to the statement.
The entire retail banking franchise is fueled by 22,309 branches, over 65,000 automated teller machines and 66,757 business correspondent outlets.