Credit Demand Subdued, Economy Needs Stimulus, Says SBI Chairman
Rajnish Kumar, Chairman State Bank of India (Source: SBI Website)

Credit Demand Subdued, Economy Needs Stimulus, Says SBI Chairman

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State Bank of India Chairman Rajnish Kumar said credit demand remains subdued and there is a need for stimulus in the economy.

Though lack of credit demand exists in the economy, there is no supply-side constraint as the public sector banks are more or less well-capitalised, he told reporters in Kolkata today.

He was in the city to attend a multi-level consultation programme with branch managers of SBI in the region.

Also read: State Bank of India Sees Credit Growth Slowing This Fiscal Year

“There is no supply-side constraint,” he said. “More or less, the public sector banks are well capitalised and bank rates also moderated.”

Kumar hoped that the monsoon will have a positive impact on the economy.

Increased spending by the government and the upcoming festival season would boost demand, Kumar said.

Also read: M&M Says Fiscal Stimulus Needed For India’s Auto Industry

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