After a washed-out Q1, bankers hope to cash in on revival starting July

Demand expected to rise, but more gradually than last year

Topics
Banking sector | Q2 results | economic growth

Abhijit Lele & Anup Roy  |  Mumbai 

After a washed-out first quarter, bankers are pinning their hopes on a revival from July, now that the second wave of the pandemic is ebbing and the economy could soon show signs of recovery. The rise in the economic activity index in June points to the beginning of a turnaround.

State Bank of India Chairman Dinesh Khara says economic activity has started reviving after the first week of June 2021. His bank expects credit to grow by nine per cent in FY22, up from 4.8 per cent in FY21. The economic activity index, which the bank compiles, has shown significant improvement, at about 72 now ...

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First Published: Fri, June 25 2021. 06:10 IST
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