Last Updated : Oct 21, 2020 11:18 AM IST | Source: Moneycontrol.com

Aditya Puri says some slowdown inevitable, but we will get our mojo back

Aditya Puri is optimistic that recovery is happening and believes a lot of positivity is needed to improve sentiment

Aditya Puri, Managing Director, HDFC Bank
Aditya Puri, Managing Director, HDFC Bank

Aditya Puri, the outgoing CEO of HDFC Bank is optimistic about India’s economic prospects. Pointing out that growth slowdown was “inevitable even before the pandemic,” he told CNBC-TV18 that there was “no cause for worry.”

“We should forget about 9 percent growth. That will take a while… the pandemic has slowed our growth but we were slowing before that,” Puri pointed out.

He was optimistic, “Some slowdown in growth is inevitable. Do not worry, we will get our mojo back. Yes, the business was hit, but recovery is happening as well. We need a lot of positivity so that sentiment improves. If the country gets the execution right, India has a bright future.”

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

related news

Follow our LIVE Updates on the coronavirus pandemic here

Speaking about HDFC Bank’s business strategy, Puri said, moves are towards continuous changes in technology to boost digital services and strengthening of presence in the semi-urban and rural areas – segments from which he expects 30 percent and 30-25 percent growth in business to come from, respectively.

Noting that 60 percent of India’s population lives in rural and semi-urban areas, Puri said a large base would drive growth.

Follow our full COVID-19 coverage here
First Published on Oct 21, 2020 11:18 am