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SBI chairman pitches for stimulus, says credit demand remains subdued

Kumar was in Kolkata to attend the multi-level consultation programme with the branch managers of SBI in the region

Press Trust of India  |  Kolkata 

File photo of Rajnish Kumar, SBI Chairman
Rajnish Kumar hoped that monsoon will have a positive impact

(SBI) Chairman on Sunday said credit demand remains subdued and there is a need for stimulus in the economy.

Though lack of credit demand exists in the economy, there is no supply-side constraint as the public sector banks are more or less well-capitalised, he said.

"Demand for credit in the economy is subdued. There is a need for stimulus in the economy", Kumar told reporters here.

He was in Kolkata to attend the multi-level consultation programme with the branch managers of SBI in the region.

"There is no supply-side constraint. More or less, the public sector banks are well-capitalised and bank rates also moderated," he said.

Kumar hoped that monsoon will have a positive impact.

Increased spending by the government and the upcoming festival season would boost demand, Kumar added.

First Published: Sun, August 18 2019. 17:35 IST
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