The State Bank of India, in its research report ‘Ecowrap’ has revised the GDP growth of India at (-) 7.4 percent in FY21. Earlier this forecast was (-) 10.9 percent. The SBI research report has also forecast India’s GDP growth in FY22 at 11 percent. The report also believes that it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms.
Important takeaways for all competitive exams:
- Chairman of State Bank of India: Dinesh Kumar Khara.
- SBI Founded: 1 July 1955
- SBI Headquarters: Mumbai, Maharashtra.