Categories: Business

The country's economy starts improving from June, the picture will be clear in the next 3 months: SBI

State bank of india
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new Delhi. State Bank of India (SBI) chairman Rajnish Kumar has said that the situation in the Indian economy has started improving since June. The Kovid-19 epidemic has severely affected the economy. The head of the country's largest bank believes that the condition of the economy is improving now. Addressing the SBI Banking and Economics conference, Kumar said that one would have to wait three to four months to see the full picture of recovery in the economy. Addressing the webinar, Kumar said, "Kovid-19 has created a lot of problems for the Indian economy. Apart from this, the supply chain has also been badly affected. April was the worst month. There was some improvement in May. The economy has started recovering from June. "

He said that the industrially leading states of the country like Maharashtra, Gujarat and Tamil Nadu have been the worst affected by this epidemic. Kumar said that the intermittent partial lockdown was announced in the country, affecting the supply chain badly. Asked whether the Reserve Bank will extend the waiver of moratorium on repayment of loan installments by the end of this year, Kumar said, "Overall, there is no need to extend it beyond 31 August 2020". He said that some areas were significantly affected. "I believe that the central bank will take a decision on this in a very careful manner." Stayed. He said that SBI data shows that his NPA has increased due to Corona virus crisis but it will be handled.

He said that people are very cautious about increasing their liability, especially in the retail, agriculture and MSME sectors. The SBI chairman said, "Industrial groups have opted to withhold installment payments. Their intention was to save cash. It is not that he was not able to pay. "He said that aviation, hotels and tourism are the worst affected areas which now need help."

This post was published on July 10, 2020 11:00 pm

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