SBI Chief Dinesh Khara said, 'Our effort is to keep interest rates soft as long as possible'

May 02 2021 04:55 PM
SBI Chief Dinesh Khara said, 'Our effort is to keep interest rates soft as long as possible'

New Delhi: The State Bank of India (SBI) will keep interest rates as soft and favorable as possible to support the growth of the economy. Talking about the impact of the second wave of corona epidemic on the bank's non-performing assets (NPA), bank chairman Dinesh Kumar Khara said the lockdown has not taken place across the country. In such a situation, we have to wait for some time to assess the impact on the banking sector.

He said there are many things including inflation which have an impact on the interest rate. Our effort is to support economic growth efforts. To ensure that, as much as possible, we will try to keep interest rates soft. Khara said it is too early to assess any kind of assessment at this time on the NPA approach of banks based on local restrictions. He further said, "The lockdown situation is different in different states, so we should look and wait for some more time before making any comment on the economy and NPA situation.''

Talking about the bank's efforts amidst the current circumstances of the corona crisis, Khara said that the bank has decided to set up temporary hospitals with intensive care facilities (ICU) for corona infected people in some of the most affected states of the country. 30 crores stake drawn by the Bank and are in touch with some private institutions (NGO) and hospital management to set up medical facilities at an emergency level.

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