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No pressure from govt to participate in MSME scheme, says SBI chief

Leading bankers welcome term loan installment moratorium announced as economic relief

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Kumar said the banks have tried to protect senior citizens from falling interest rates even as operational costs for serving savings bank account customers are high.

Arup Roychoudhury New Delhi

2 min read Last Updated : Aug 27 2020 | 3:01 PM IST

State Bank of India Chairman Rajnish Kumar said on Thursday that the economy had recovered since June, but cautioned aviation, tourism, hospitality and entertainment continue to be stressed.

Kumar, who was speaking at Business Standard’s Unlock BFSI 2.0 round-table, said that there has been no pressure from the government for banks to support the loan guarantee scheme for micro, small and medium enterprises (MSME).

“There was no pressure from the government to support the MSME scheme. The scheme was designed in consultation with us. It is a well-designed scheme, which is why it is so successful,” said Kumar, who spoke at the

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