SBI, Axis, HDFC Bank top go-to lenders for Indian Inc during Covid: Report

Companies say digital infra provided by Indian banks and faster loan and account documentation helped them during crisis.

Large and mid-sized Indian corporates relied upon the big lenders in the Indian banking space for their funding needs during the pandemic, thereby accelerating the consolidation in the corporate banking space.

In a report published by "Coalition Greenwich", a part of rating agency Crisil, large and mid-sized Indian copanies both said the country’s largest lender State Bank of India (SBI) has done the best job in helping them mitigate the impact of the pandemic. And among private sector players, Axis Bank and HDFC Bank provided funding support to them, Citi and HSBC were their top funding sources among foreign banks.

“The fact