Expect Robust Retail Loan Growth, Says SBI Chairman

Dinesh Khara, chairman at State Bank of India, discusses some of the challenges he sees for banking in 2021, India's economy and is outlook for the sector. He speaks on "Bloomberg Daybreak: Middle East." Chairman Dinesh Khara stated that the bank will accelerate retail loans. In an interview, Khara stated that the banks were expecting worse, so they strengthened risk management significantly. He added saying, that's why we are expected to see much better results than at the beginning of the pandemic. For SBI, Khara said, the lender will accelerate retail loans. As of September 2020, SBI's bad loan ratio improved to 5.28% from 5.44% of June 2020 quarter. Khara also spoke about Yono application. He said in the interview that, "We had introduced Yono as a delivery platform within the bank. It was in sync with our ambition, with our digitalization."
"I think ecnomy is evolving in the better results to the banks and actual contractraction is btter and third quarter which will end in next month March has good growth, I think that's very positive and banks were epecting curse and has much better results as expected."