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00:00It's looking pretty for Indian banks, but the macro environment outside of India isn't. Given the tighter liquidity, might there be ripple effects for India? Well, I think I saw it as Indian banks are concerned. They're very well poised in terms of supporting the growth opportunities which are emerging in India. India remains coupled with the global economy, but good at Ericsson, tech depends upon their domestic demand. I think we are witnessing a significant growth in the domestic demand in the quarter to off the financial year 22 23. We are seeing demand gringo boldness 10 percent. We are seeing sharper focus for the infrastructure creation in the economy. And that actually calls what is significant investment. Apart from that, the renewable is becoming a new story in the economy. The sharper focus on renewable, sharper focus or the ease and also all the related industries which are required to support such initiatives, they're actually growing very well. So I think ISE rather than economist concern, we are quite hopeful that this year will witness the growth of 47 percent and going forward even next year. Also on the high base, we expect the growth to be about 6 percent. You talk about the potential in renewables. What will that translate to in terms of profitability, in terms of loans, in terms of deposits? What are we looking at? Well, this is one of the most important growth lever which we pursue. And it is a we have already created about 250 hundred fifty gigawatt capacity for renewable energy in the economy, and we aim to scale it up to 500 gigawatt. So that is something that should be a huge investment. Apart from the infosec, creation is too big for a economy of our size. We have almost toward hundred eleven trillion Indian rupees worth of national infrastructure plan, which is already in place in the economy. And we observed that almost civil 30 percent of DAX that come in through their private investment. So DAX 30 percent means that if at all that has to be supported by the Indian banking system, it will actually require the credit to almost doubled from visitors from the banking system as a whole. You're optimistic about the outlook for the banking sector, but deposits are a problem, are lagging behind. Why is that and what's SBA doing to counter that? Well, of course, one, of course, when it comes through deposit. This year, we are seeing the situation where they were lagging behind. I would also like to know link it up with the fact that there is a significant financialization of the economy in the country and the significant financialization. What is happening is we are trying to stand on the eco system for acquiring the transactions. We were the largest issuers of the debit card. We were the we were very much present did in the economy. But now we are extending this facility of equating these two transactions, all the merchants, institutions, tutors, hospitals, nursing homes, their sector, etc.. So all this will help us in done so generalizing all this money from the economy. Since we have got the largest presence in the economy with about 23000 guard branches spread across the nook and corner of the country, we are very well positioned to generalize this money. I think it is going to we're a long way in terms of supporting our deposit gathering exercise. And Richard, help us in shoring up our loan book to SBI is about 200 years old plus 200 plus spot. It is considered one of the leading fintech players in India. What's the plan? What initiatives will you be launching to retain that position? Couple of years back, we came out with that was split up. We call it a you know, it's a thin one. It's a bill player financial banking app. It is financial support to it and it is e-commerce. So with notwithstanding that particular functionality, we are trying to we are actually in the process of creating a debate within the bank and that is what we call it, Dow Jones 2.0. And before that, we have our, you know, one point five plan, which has nothing but, you know, for every Indian. So as of now, our unit is being made available to those were the bank's customers. We are in the process. Your point. You know, one point five will be. The facility of your note to all those who are naughty when the bank's customers also. So that is something which you are working on and hopefully we will be in if we shouldn't do skillet of very far. Still, I should. No, it's looking good, but your stocks are not. In fact, they're lagging behind all the other rival banks. I'm just wondering, how do you counter that? How do you ensure that your shareholders get better results? I would like to say that unless we abstain, many assumed office. We're back in the year 2020, up toward 20. Our stock was at about 282 piece and today it is at the word six hundred rupees. So market has already started organizing the limbo for tiredness and the shop will focus on the phone number but in the bank. I think going forward we will be in a position to meet the market expectation and perhaps allow the price to book value also comparable to many other leading banks across the globe and within the country. I have already given a commitment that I had given the guidance that we will have the orderly off more than one and RTS of more than 15 by the year 2014. But the last quarter will already reassert RTS of almost 17 percent plus and ISE is also active 2.0. So I think we are very much on track and will meet investors expectations too. Just one final question. How are you assessing your competition? Because we have the likes of HDFC Bank managing which HDFC and it becomes a behemoth. I mean, how are you countering the competition? See, the one thing which we have to keep in mind, that we are managing the bank of this size, of this complexity and another day for many years so that the bank becomes big in size. It has got its own complexities. So I think to that extent, we are ahead of the curve. And I'm quite confident that we will stay nimble footed. We will stay agile, which will probably help us in meeting the competition. It's a reality that we are said Bank of India, fierce competition for many, many years. It does not. It is not something new where we have navigated in the past. I'm quite confident that going forward also, we should be in a position to beat the competition.

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SBI CEO: We Are Seeing Significant Growth in Domestic Demand

State Bank of India CEO Dinesh Khara says Indian banks are well poised to support growth opportunities in India. He speaks to Bloomberg from the World Economic Forum in Davos. (Source: Bloomberg)

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