SBI Chairman Says Banks Are Prepared for Economic Downturns
· Business · Economic Times
State Bank of India Chairman CS Setty stated that Indian banks and corporations are better positioned to handle economic downturns than in previous decades. He noted that despite global challenges like the Russia-Ukraine war and Middle East crises, the Indian economy has demonstrated significant resilience. SBI projects 7.5% growth for the fiscal year and expects a 14-15% rise in credit, supported by the retail and SME sectors. The bank continues to align its inflation outlook with the RBI's 5% projection for FY27.
Why it matters
The stability of India's largest bank suggests a strong buffer against global volatility, which is critical for maintaining credit flow to Indian businesses.
Read the original report — Economic Times
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