SBI chairman to go ahead with teaser loans

as the State Bank of India Chairman Om Prakash Bhatt prepares to step down in March after a five-year term, has expressed his support of the 8 percent teaser loan scheme. The scheme is said to come with no risk for the bank and its customers despite the RBI seeking higher provisioning from such loans.
However in Bhatt’s opinion the scheme is entirely transparent and finds it logical as opposed to the RBI’s concerns that it would reap adverse effects on the bank’s bottom line and share prices.