Bangalore: In the wake of accounting scandals in the US, State Bank of India (SBI) would ask its corporate customers to ensure greater degree of compliance of accounting norms and to disclose more information, a topmost bank executive said on July 12.

"Some additional information and lot of questions would be asked," SBI managing director S Govindarajan, also the group executive of the national banking group, told reporters after launching the bank's small business credit card in Bangalore.

He however added that "much of it" would be directed at bigger companies.

Govindarajan said even as it existed today, statutory disclosures had to be made and "some additional information would be asked".

He however said the "kind of accounting scandals" that broke out in the US, happenings in India were "comparatively much lower". "I don't think it will be a big issue. The value systems are better in India".

Replying to a query, Govindarajan said with the economy looking up, the credit off-take would pick up in 2002 with 16 to 20 per cent growth.

Earlier, launching the small business credit card, Govindarajan said the bank had posted "thumping profits" during the fiscal ended March 31, 2002, showing a 52 per cent jump over 2001.

"The profits came from the regular banking operations which is a welcome exception", he said.

He said depending on the success of the card, its limit would be extended to Rs 20 lakh from Rs five lakh, so that a larger number of industries were benefited.

PTI