$5 trillion economy target needs doubling of banking credit: SBI chairman

January 19, 2020@4:40 AM TFP Editor 0

State Bank of India (SBI) chairman Rajnish Kumar on Sunday said banking credit would need to be doubled from the current level if India were to achieve its ambitious target of becoming a $5 trillion economy by 2024. “At present, the Indian banking credit outstanding is around Rs 99 trillion and for India to become a $5 trillion economy, it needs to be at least doubled over the next 5 years,” Kumar said here. He observed that Indian banks had the capacity to cater to [Read More]

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Founder of South Korean retail giant Lotte dies

January 19, 2020@4:25 AM TFP Editor 0

Lotte Group founder Shin Kyuk-ho, who started manufacturing chewing gum in 1948 in Japan and built the business into South Korea’s No.5 conglomerate with interests ranging from retail to chemicals, died on Sunday, the company said. He was 98. Read on Reuters