Dipped credit growth of State Bank of India in the first two quarters of this fiscal may force the bank to rethink and revise its credit offtake projection to 18% for this fiscal.

"I think we will do that (revising and bringing down the loan growth from earlier estimated 20 per cent). I have been saying it is difficult to achieve that. but if it picks up after Diwali otherwise we may have to revise," SBI chairman OP Bhatt said.

He said that the credit growth will be reduced to 18% from 20% for5 this fiscal.

RBI data says that the total outstanding credit of SBI stands at Rs 34,22,291 crore which is just 5.6% more than the figure at the beginning of this fiscal.

SBI has plans to introduce about 1.50 lakh point of sale (POS) terminals for debit and credit card payments across the country.

The bank has received approval from RBI for setting up of a wholly owned subsidiary for conducting merchant acquiring business in the name of SBI Payment Services.