Consumer credit strong, says SBI's incoming boss Rajnish Kumar

According to Kumar, consumer confidence and the consumer finance story remain intact

Corporate credit growth is limited but credit is growing well on the consumer front, SBI's Chairman-designate, Rajnish Kumar, said in a conference call on Thursday. He will take over from current Chairman Arundhati Bhattacharya, who will complete her four-year term on Friday.

Kumar also said that the Indian economy is undergoing a transformation and that the banking industry is facing huge challenges. Kumar added that SBI would completely transform in the next three years. 

He said that while corporate credit growth was muted, credit was growing well on the consumer front. Kumar added that discussions were ongoing on how to revive corporate