HDFC Bank Tumbles, but Analysts Still Back India’s Private Banks

SBI's newly appointed chairman said the bank will target India's unbanked population to expand amid intense competition for deposits. The strategy aims to grow retail deposits and market share in a large underserved market, but is primarily a long-term customer-acquisition initiative with limited immediate market-moving implications.

Analysis

SBI's newly appointed chairman said the bank will target India's unbanked population to expand amid intense competition for deposits. The strategy aims to grow retail deposits and market share in a large underserved market, but is primarily a long-term customer-acquisition initiative with limited immediate market-moving implications.