Money & Banking

Covid-19 is more a biological than financial crisis: Aditya Puri

Our Bureau Mumbai | Updated on March 23, 2020

Aditya Puri, Managing Director and CEO of HDFC Bank

Says forbearance will be required across sectors

Private sector lender HDFC Bank on Monday said it is not expecting any major impact from the current lockdown and coronavirus pandemic and said it is more a biological than a financial crisis.

“Once we solve the biological issue, this is not a crisis. We only want to watch out on that,” said Aditya Puri, Managing Director and CEO, Aditya Puri.

He also told reporters that the bank would be happy to step in for customers if they are facing a temporary cash-flow issue provided they have the capability to pay back later.

He also said that forbearance needs to be given across sectors and expressed hope that the Reserve Bank of India will look into the issue.

Replying to questions, Puri also said that the bank is working on a succession plan and the recommendations have been made to the search committee. The name of the candidate could be announced before April, he said.

HDFC Bank scrip fell to a 52-week low of ₹764.85 apiece on BSE on Monday in intra -day trade. It later recovered and was trading at Rs 781.35 apiece.

Published on March 23, 2020

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