 "State Bank of India Chairman, Rajnish Kumar")
In wake of the IL&FS crisis, efforts are underway by the Indian government, RBI as well as SBI to try and stabilise the system “very quickly”, and things are likely to return to normal in a couple of weeks, SBI Chairman Rajnish Kumar said in New York.
Kumar said that the Infrastructure Leasing and Financial Services (IL&FS) was a “unique institution” operating in the infrastructure financing and construction space.
It is an engineering, procurement and construction (EPC) contractor, holding assets as well as its finances - it was a 3-in-1, Kumar said, adding that whether it is banks or non-banking
