The robustness in banking architecture in India of late is revealed by bank credit growth that stood at 20.2 per cent in 2024 (net Rs 27.6 lakh cr), continuing the momentum of FY23 (15 per cent) and moving sizably up from FY22 (8.6 per cent), it added.
It might be better for the Reserve Bank of India (RBI) to allow the rupee to depreciate a bit, letting it find its natural balance, said Soumya Kanti Ghosh in an SBI research report.
The report said it will take almost seven-quarters from Q4 FY21 to reach the pre-pandemic level in nominal terms and there will be a permanent output loss of around 9 per cent of GDP.
The GVA in Q2 2020-21 from the manufacturing sector grew 0.6 per cent, as compared with degrowth of 0.6 per cent in the corresponding quarter of the previous fiscal.
In terms of lending trends, the report cited that except for services and personal loans, credit to all other major sectors has declined in August.
So far, around 1,000 listed entities have announced their results for the first quarter.
State Bank of India (SBI) had registered a profit of Rs 838.4 crore during January-March period of 2018-19, the lender said in a regulatory filing.
1. According to the SBI's research report Ecowrap - the gross domestic product (GDP) growth is likely to be 4.2 per cent for FY20 and (-) 6.8 per cent for FY21. 2. The report further said COVID-19 cases in the country could peak anytime in the last week of June.
