SBI has Rs 4 trn credit pipeline, pvt capex to pick up: Chairman C S Setty

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SBI has Rs 4 trn credit pipeline, pvt capex to pick up: Chairman C S Setty - Business Standard

Quick Summary:

SBI Chairman C S Setty has said the bank has already got Rs 4 lakh crore strong credit pipeline from India Inc and expressed hope that capital expenditure by the private sector is expected to pick up in the second half of the fiscal year.

As far as public spending is concerned, Finance Minister Nirmala Sitharaman in the Budget proposed to raise the capital expenditure target by 11.1 per cent to record Rs 11.11 lakh crore for 2024-25.This is 3.4 per cent of the country's GDP.

Setty said some of the corporates had undertaken brownfield expansion for which the capital expenditure was funded by their own cash accruals and cash balances that they had.