• Privacy Policy
  • About Us
  • Contact Us
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
Cartographeum
No Result
View All Result

Banks not risk averse: SBI chief

Juliet Woodard by Juliet Woodard
September 21, 2020
Home Business
Share on FacebookShare on Twitter

‘Lenders being prudent amid muted demand to avoid repeat of post-2008 scenario’

Asserting that there is a muted demand for loans, SBI Chairman Rajnish Kumar on Monday said banks are not risk averse but being prudent in these trying times to avoid a repeat of the post-2008 scenario when there was ‘dilution’ in credit underwriting standards. Data clearly shows that investment in the economy has come down, the head of the country’s biggest lender said. “If the capex [capital expenditure] is not happening and investment in the economy is not happening at the same pace, then obviously this is a demand issue and the risk aversion would be where there is a demand and banks are not lending,” he said at a virtual event organised by AIMA. Non-food bank credit grew 6.7% year-on-year in July as against growth of 11.4% in the same month of 2019, as per latest data from the Reserve Bank of India. Bank credit in July stood at ₹91.48 lakh crore. For banks, to give debt requires equity from promoters, Mr. Kumar said, adding that the number of people or business houses with the capacity to invest had shrunk. Want of entrepreneurs In such circumstances, there was a need to create more businesses and entrepreneurs who have the capability to invest in operations and borrow, he noted. “If people are benchmarking that what happened after 2008 where there was a lot of money supplied by the banks and there was dilution of the credit underwriting standards and then banking system and the country paid a heavy price.“Banks, in my view, they are being prudent,” he said. Asked if further rate cuts would spur growth, Mr. Kumar said whatever reduction had happened had not been able to push investment. Inflation, the SBI chief said, was supply side driven. “Right now, the demand is muted, discretionary spend is muted, so we have to do everything to keep our supply chains in order and put them up and running. Inflation will come under control,” Mr. Kumar added.

You have reached your limit for free articles this month.
To get full access, please subscribe.
Already have an account ? Sign in

Show Less Plan

Subscription Benefits Include

Today’s Paper
Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Faster pages
Move smoothly between articles as our pages load instantly.

Unlimited Access
Enjoy reading as many articles as you wish without any limitations.

Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.

Personalised recommendations
A select list of articles that match your interests and tastes.

Briefing
We brief you on the latest and most important developments, three times a day.

*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.

Juliet Woodard

Juliet Woodard

Next Post
Asus ExpertBook Range of Laptops, AsusPro ExpertCenter Series of Desktop PCs, All-in-One PCs Launched in India

Asus ExpertBook Range of Laptops, AsusPro ExpertCenter Series of Desktop PCs, All-in-One PCs Launched in India

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

EV maker Ather to set up 135 charging stations

EV maker Ather to set up 135 charging stations

October 14, 2020
COVID-19 Restrictions Cuts Out The ‘Lookie-Loos’

COVID-19 Restrictions Cuts Out The ‘Lookie-Loos’

November 22, 2020

Trending.

Understanding Emergency Rental Assistance For Landlords And Tenants

Understanding Emergency Rental Assistance For Landlords And Tenants

January 27, 2021
Call of the mall – The Hindu

Call of the mall – The Hindu

October 16, 2020
Rupee slumps 23 paise, settles below 74/USD level

Rupee slumps 23 paise, settles below 74/USD level

November 1, 2020
Webinar on weather and its impact on business on November 19

Webinar on weather and its impact on business on November 19

November 16, 2020
Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

November 1, 2020

Cartographeum brings you the latest information about Tech,Real Estate & Business.

Follow Us

Categories

  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
  • Uncategorized

Tags

Amazon Apple Watch 2 Bombay stock exchange BSE Business Buying Guides china closing trade coronavirus Covid COVID-19 currency dollar rate economy Finance Ministry foreign exchange forex gold india indian economy Indian stock market Industry iOS 10 lockdown luxury homes market and exchange markets nifty Nirmala Sitharaman NSE oil pandemic Playstation 4 Pro rbi real estate Reserve Bank of India rupee rupee rate Rupee value rupee vs dollar sensex Sillicon Valley stock exchange Stocks USD

Recent News

Why The Pandemic Doesn’t Mean The End Of The Office

Why The Pandemic Doesn’t Mean The End Of The Office

March 3, 2021
What The New 3-2-2 Work Week Will Mean For Commercial Real Estate

What The New 3-2-2 Work Week Will Mean For Commercial Real Estate

March 2, 2021
  • Privacy Policy
  • About Us
  • Contact Us

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Review
  • Computers
  • Gear

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.