State Bank of India (SBI) chairman Rajnish Kumar on Tuesday said Narendra Modi government is taking all the measure to recover economic growth in the country and foreign investors are still bullish as far as India is concerned.
Speaking to CNBC-TV18 at the World Economic Forum in Davos 2020, Kumar said opined that there is a need to change the business sentiment particularly from the domestic investor's point of view.
Talking on credit growth, he said, "In terms of credit growth, SBI had set a target of 10 to 12 percent in 2019 and it seems to be falling short of that. In 2019, the credit growth for SBI was on the higher side, above the average, so we have a base effect also. If corporates and other investors utilise sanctioned funds this year, SBI's credit growth will be 10 percent, so we are just pushing for those disbursements."On retail loan NPAs, Kumar said, "Whenever we do a risk assessment for giving credit we don't give credit to someone where we believe our money will not come back. So, you are trying to assess the potential known risks and it is always the unknown which hits you. Macro definitely impacts the NPA or the asset quality for any bank. For 2020, NPAs will be more or less around Rs 32,000 crore plus one account. Provisioning would definitely be on a yearly basis lower than what we did last year."