SME Times News Bureau | 18 Aug, 2019
Amid widespread concern over the current slowdown
in the Indian economy, State Bank of India (SBI) Chairman Rajnish Kumar on
Sunday raised the pitch for a stimulus, saying that the credit demand remains
The SBI chief mentioned about Though lack of credit
demand exists in the economy, there is no supply-side constraint as the public
sector banks are well-capitalised, he said.
"Demand for credit in the economy is subdued. There is a need for stimulus
in the economy," Rajnish Kumar told media
"There is no supply-side constraint. More or less, the public sector banks
are well capitalised and bank rates also moderated," he added.
Increased spending by the government and the upcoming festival season would
boost demand, Kumar pointed out.
Intensifying the efforts to find ways out of pressing issues of tax surcharge
on the super rich, the slowdown in the auto and housing sector, the Finance
Ministry and the Prime Minister's Office (PMO) are constantly holding meetings
to come out with solutions to tackle the near-stagnant economy.
They are discussing options and solutions on tackling
the slowdown in the auto, realty sectors and and also on the equity market,
being battered by FPIs.