SBI Chairman Dinesh Khara expects significantly lower GDP contraction in Q2

State Bank of India chairman Dinesh Khara said the second quarter has seen a significant improvement in the activity level.

Speaking to CNBC-TV18's Shereen Bhan at Hindustan Times Leadership Summit 2020, he said demand revival has kick-started the economy and expects a significantly lower GDP contraction at the end of the second quarter.

On RBI's new banking ownership rules, he said, "Whatever maybe the ownership structure, the most important in banking system is the corporate governance, related party transactions and exposure limits, as long as these things are enforced either through regulation or through oversight mechanism, the banking system should not have much of issue."