BANK NEWS
SBI Chairman few more months to see recovery
New Delhi: SBI Chairman Rajnish Kumar said on Friday speaking at SBI Banking and Economics Conclave that we have to wait for three to four months to see the results of recovery. After this Coronavirus outbreak country’s economy was seen to be disrupted but slowly the recovery is happening from the month of June.
He said “COVID-19 has been caused gigantic disruption of the Indian economy along with dislocation of the supply chain as well. April was the worst month. Things had slightly improved in May, whereas the recovery started in June”
In conversation with RBI it was also discussed that there is no need of extending the moratorium period on loan repayments. He said, some sectors have been affected most like aviation, hotel, tourism also which need help as well. The impact of COVID-19 serves a drastic global financial problem and economy fall down in a large extent.
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