BANK NEWS
HDFC Shri Deepak Parekh Talks about the boost in the Indian economy
New Delhi: Shri Deepak Parekh was in conversation with The Print on Monday and talked about the economy, said there is massive pent-up demand, and it also increases in the coming months. April and May were a disaster but august is giving hope in the spike of the economy.
Parekh said, “April and May were disasters. In June, there was a ray of hope but July was much better. We are past the hump and we are in for better times. We are improving every month. I am hopeful. There is a massive pent-up demand in the retail segment”.
The coming year will take charge and there will be a rapid growth rate. The consumer credit will give a boom and the demand for loans will increase for the white goods, auto, two-wheelers, and homes. Parekh said, pointing out that salary cuts in sectors have been mainly in the top 10-30 percent income category. However, the damaged industries are now due to pandemic is like hospitality, travel, and tourism will take a longer time to recover.Parekh also states that the economy is slowly limping back to pre-COVID days, but highlighted that it was slowing down even then.
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