SBI's new chief says top priority to maintain loan book quality

MUMBAI (Reuters) - India's largest lender, the newly appointed chairman of the State Bank of India, said his focus in his acquisition will be on maintaining the quality of the loan book while ensuring that provisioning requirements are met.
At a time when the Indian banking system is ravaged by the pandemic, SBI sees credit growth of around 6% to 7%, while business for Dinesh Kumar Khara bank is "returning 70% to 80% to pre-COVID-19 levels" . Chairman, SBI said in a press conference after taking the lead on Wednesday.
Prior to taking over as chairman, Khara was the bank's managing director and responsible for overseeing SBI's global markets and subsidiaries.
Scroll to continue with the content
display
Wild bull
How he traded $ 2.8 million in stocks part-time at home
Kyle Dennis took a leap of faith and decided to invest his $ 15,000 savings in the stock market - $ 2.8 million later, he owes his success to these strategies
LEARN MORE
Khara was appointed chairman for a three-year term.
While concerns about SBI remain in certain segments due to the economic disruption caused by the pandemic, the stress in the credit books overall is still nothing to worry about, Khara added.
The new boss has also ruled out any immediate plans to monetize his subsidiaries in the near term as the market remains subdued.
SBI is also "very seriously" considering options to enter the country's digital payments ecosystem as a primary stakeholder. The lender, along with other stakeholders, can apply to the central bank for a license to set up a payment company to operate digital payment networks across the country.


(Reporting by Nupur Anand; Editing by Chizu Nomiyama)

You should check here to buy the best price guaranteed products.

Last News

Alexander Vindman, the White House staffer who sparked Trump's 1st impeachment, tells his story

No hard feelings: Jewett finishes with racer who tripped him

A Trump supporter was arrested after a church prayer group member sent texts to the FBI that showed him inside the Capitol Building on Jan. 6

U.S. Women's Soccer Goes Where It Hasn't Gone In 9 Years After Win Over Netherlands

The Best Beauty Instagrams of the Week: Sita Abellán, Zoë Kravitz, and More

The life lessons of "Three Little Engines"