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Credit Demand Subdued, Economy Needs Stimulus: SBI Chairman

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.

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State Bank of India (SBI) Chairman Rajnish Kumar 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 the city 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.

(PTI)


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