Biz optimism returning, economic recovery to be L-shaped: Axis Bank MD

He was quick to add that we are not completely out of the woods yet and a sustained recovery may take a few quarters

Axis Bank's chief executive and managing director Amitabh Chaudhry feels the economic recovery will be slow, but there is optimism coming in from improved loan demand and credit card spends for the third largest private sector lender.

He, however, sounded sceptical on whether the government can come out with more stimulus measures, and said that the economic recovery will be a slow "L-shaped" one.

It can be noted that the country's GDP contracted by nearly a fourth in the June quarter and everybody is watching for signs of revival. Some analysts feel the encouraging data for the last month can