Indicating that the systematic unlocking of activities across India in a post-Covid-19 scenario had led to a revival of private investment, the veteran banker linked the slightly better performance of companies in the second quarter (Q2) to the Centre’s move to ‘Unlock’ after the lockdown imposed due to Covid-19.

Dinesh Kumar Khara, Chairman, State Bank of India, in conversation with Shereen Bhan, Managing Editor, CNBC TV-18, during the 18th edition of the Hindustan Times Leadership Summit (HTLS) in New Delhi.(HT PHOTO.)

State Bank of India chairman Dinesh Kumar Khara on Thursday said that he expected a significantly lower contraction between 8 and 9 per cent as against the earlier forecast of 9 and a half per cent for the economy as the country moves towards the end of 2020.