state Indian bank: SBI says to help clients with cash flow attack

KOLKATA: State Bank of India on Saturday, it said reaching out to customers who had a weakening cash flow so they could be helped.

A senior bank official said it would be very difficult to assess the medium or long-term impact on the banking sector at the moment. The bank looked short-term now – the next two or three quarters, the senior SBI official said on condition of anonymity. The impact of the shutdown over the next one to two years will be difficult to assess at the moment, he pointed out. “SBI is sure to turn around as India is a young country and growing economy“Said the senior official.

According to one analysis, aviation, hospitality, trip and tourism Sectors were the most affected in the wake of the coronavirus outbreak, he said, and the addition of power and steel was also adversely affected as demand fell. the sectors that could benefit from the pandemic is pharma and manufacturing of medical equipment, the official said.

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