Credit growth will rise to 8-9% by March-end: IBA chairman Rajkiran Rai G

The economy needs all the support and the banking system is playing a very active role in this, said Rai G

We should not tinker with the structure of the financial system and the government will look at further reforms when things return to normal, Rajkiran Rai G, the newly-elected chairman of Indian Banks’ Association (IBA) and managing director and chief executive of Union Bank, tells Abhijit Lele. Edited excerpts:

We have entered the second half of the financial year, often described as busy season. What is your assessment of demand for credit?

Credit demand is expected to be much better in the second half (October 2020-March 2021). Actually, if you look at the first half overall, except for two-three months of lockdown,