BANK NEWS
SBI Chairman Shri Rajnish Kumar views on the recovery of the economy
New Delhi: The downfall of the economy is showcasing the pulldown situation in banking, finance, and other co-operative sectors which have been seen by all. State Bank of India Chairman Mr. Rajnish Kumar said that the government and corporates must work together for a quick recovery of the economy.
While stepping up and invest in infrastructure will give a boost to the economy. According to Kumar the government and corporates have to open up their wallets to invest, their actions should go hand-in-hand for a quick economic recovery since the vital middle class remains cautious amid ongoing unlocking of the economy.
He further put his point in the Loan moratorium process and suggest to restructure the process rather than extend it. He said there is no need for the moratorium in that case the government can change the process of repayments on loans or restructure it.
He also mentions that the status of banks is stable now far from the month of April now the banking sector is recovering slowly and in a better position.
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