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Banks sitting on comfortable liquidity position: SBI chairman

Press Trust of India  |  Guwahati 

State Bank of India Chairman Rajnish Kumar on Saturday said most banks have a comfortable liquidity position and emphasised the need for credit flow in the economy.

Kumar also said that India is a part of the world economy, and if there are global headwinds, "we cannot remain unimpacted".

"Banks like SBI are sitting on a comfortable liquidity position. What is needed is flow of credit. There is some new trend about aggregator model... people prefer to use Ola, Uber for their transport. There is some shift visible from people wanting ownership of vehicles. This is a global trend and India is not an exception," he told reporters here.

To another question, Kumar said recent data about growth rates coming down is "not sign of recession".

The SBI chief said he had a meeting with Assam government officials here, and received "valuable" feedback on the initiatives taken by it.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, August 24 2019. 22:30 IST