No need for blanket extension of EMI moratorium: SBI chief Rajnish Kumar

Says people are very cautious about increasing their liability. Especially in retail, a large number of people are paying up, and SMEs have also started paying

State Bank of India (SBI) is not concerned too much regarding the pile-up in bad debt due to the pandemic, and sees no need for a blanket extension of the moratorium for every sector. 

“I don’t want to sound too optimistic on the NPA front but based on the analysis of our book, I am not over-worried,” SBI Chairman Rajnish Kumar said at SBI’s flagship Banking and Economics Conclave. 

While he admitted that NPAs were difficult to predict, considering only data of SBI “it seems to be a very manageable situation”.

People are largely paying up, especially in retail. SMEs have also started