State Bank of India shuns personal loans

 The move by the bank not to offer individuals unsecured loans is based on recent statistics that show household indebtedness is extremely high.  SBI managing director and CEO, Sophy Mathew has said they have studied the local market and decided to focus on lending financial support to the corporate sector. “Latest data from both the Bank of Botswana and IMF indicate that household lending is under stress, so we will not be getting into household lending for the next three years,” she said at the bank’s official launch in Gaborone yesterday.