GET Stock QuotesNews18 APP
News18 English
»
1-min read

Union Budget Should be Investment, Consumption-oriented: SBI Chairman

On the demonetisation issue, Bhattacharya said normalcy in cash availability is expected to be back by the end of February.

IANS

Updated:January 31, 2017, 8:35 AM IST
facebookTwittergoogleskypewhatsapp
Union Budget Should be Investment, Consumption-oriented: SBI Chairman
File image of Arundhati Bhattacharya, the chairman of the State Bank of India. (Photo Credit: Getty Images)

Chennai: Allocation of money for infrastructure, capital infusion, activation of the new laws are the major expectations of the banking sector from the union budget 2017, said State Bank of India (SBI) Chairman Arundhati Bhattacharya on Monday.

She also said the budget should be consumption and investment-oriented as not much of private investment coming in.

Speaking to reporters here, Bhattacharya said allocation of funds for infrastructure, additional capital infusion for government banks, and operationalisation of laws to cut the non-performing loans are some of major expectations of the banking sector.

She also said the sector is looking at the operationalisation of legal actions like the Bankruptcy Codes, amendment to Sarfaesi Act and the Debt Recovery Tribunal Act to derive the intended benefits.

On the demonetisation issue, Bhattacharya said normalcy in cash availability is expected to be back by the end of February.

She said the demand that got slowed down due to demonetisation is expected to pick up in two-three months.

However she declined to share the amount of demonetised currency the SBI has received.

Also Watch

Read full article
Most Active
Company Price Change %Gain
SBI 263.20 +9.30 +3.66
Strides Shasun 403.20 +11.15 +2.84
Tata Steel 540.05 -36.75 -6.37
PC Jeweller 196.95 +5.25 +2.74
Infosys 1,184.90 -8.95 -0.75
Company Price Change %Gain
SBI 263.20 +9.05 +3.56
Zee Entertain 552.95 -12.40 -2.19
Strides Shasun 404.90 +12.70 +3.24
PC Jeweller 196.80 +5.85 +3.06
Vedanta 252.70 -16.80 -6.23
Top Gainers
Company Price Change %Gain
SBI 263.20 +9.30 +3.66
Tech Mahindra 697.45 +11.05 +1.61
Cipla 532.40 +8.40 +1.60
NTPC 166.55 +1.40 +0.85
Grasim 1,047.35 +7.85 +0.76
Company Price Change %Gain
SBI 263.20 +9.05 +3.56
NTPC 166.35 +1.35 +0.82
Larsen 1,327.20 +7.25 +0.55
Tata Motors 309.25 +1.50 +0.49
ICICI Bank 290.70 -0.05 -0.02
Top Losers
Company Price Change %Gain
HPCL 287.00 -24.85 -7.97
Vedanta 252.65 -17.30 -6.41
Tata Steel 540.05 -36.75 -6.37
BPCL 373.95 -23.65 -5.95
ONGC 175.40 -9.80 -5.29
Company Price Change %Gain
Tata Steel 539.25 -37.95 -6.57
ONGC 175.55 -8.75 -4.75
Dr Reddys Labs 1,952.55 -61.20 -3.04
IndusInd Bank 1,856.70 -53.55 -2.80
ITC 273.45 -5.35 -1.92