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Last Updated : Aug 18, 2019 06:15 PM IST | Source: PTI

Credit demand subdued, economy needs stimulus, says SBI chief Rajnish Kumar

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 said.


State Bank of India (SBI) Chairman Rajnish Kumar on August 18 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 said.

"Demand for credit in the economy is subdued. There is a need for stimulus in the economy", Kumar told reporters.

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

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

Kumar hoped that monsoon will have a positive impact.

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

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First Published on Aug 18, 2019 05:59 pm
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