India's largest lender, State Bank of India (SBI) said that despite of the credit slowdown, the bank is expecting credit growth of 16-18% in the current financial year.

SBI's Deputy Managing Director, S B Nayar said, "There is demand slowdown...We expect a credit growth of 16-18 per cent for 2012-13."

Mr. Nayar talking about corporate loans said that there are certain sectors like consumer goods, ports and cement are doing well in terms of credit growth. But few sectors like road and power need to check on their credit growth.

In the second quarter, credit growth of the banks stood at 0.1 to 16.4 per cent, according to Reserve Bank of India.