SBI’s NIM target of 3% safe even if RBI cuts rate: Setty

STATE BANK OF India is confident of achieving its 3% net interest margin (NIM) guidance even if the Reserve Bank of India (RBI) decides to cut the repo rate by 0.

- PRESS TRUST OF INDIA

25% in next week's monetary policy review, Chairman CS Setty said.In an interview with PTI, the SBI chairman said the RBI decision on December 5 will be a "close call" and added that the house view at SBI is pointing towards a shallow cut of 0.25%. "If December rate cut is there, our house view is that it would be of 0.25%, so it may not have any significant impact on margins."

Earlier this week, RBI Governor Sanjay Malhotra said there is a space for a rate cut and it was mentioned in the last bimonthly policy in October.