SBI chairman CS Setty sees discretionary credit demand moderating, expects 50 basis point rate hike in December SBI chairman CS Setty expects higher interest rates to moderate credit demand in rate-sensitive sectors, especially discretionary spending. The bank expects an interest rate increase of another 50 basis points in December, followed by a pause. Sethi said he sees no system-level concerns about the quality of retail assets, although highly leveraged households may face pressure.