INDIA: State Bank of India’s chairwoman Arundhati Bhattacharya has said there are signs of pickup in bank credit and demand for working capital from corporate has also started to rise.”We are seeing green shoots in the credit cycle. We are seeing some Brownfield projects coming in. There are a few new projects in the renewable energy segment but not too many.
We also see some signs of pickup in working capital,” she said on the sidelines of a banking event organized by the Indian Chamber of Commerce (ICC).There are lots of plans, which companies have finalized and they have also started working on projects, she said. “We have to give a little time for these projects to be properly framed for them to be brought for financing.
There is no point in hurrying this process,” she said. The government’s effort to set up various committees to look at the public-private partnership (PPP) structure and tender documentation, among others, would help speed up implementation of projects, she said. Answering a question about stake sale in its general and life insurance arms, Bhattacharya said that SBI is yet to finalize valuation of these companies.
