MUMBAI: Consumer cutbacks due to raging inflation and higher borrowing costs are failing to dent investment plans at Indian businesses tapping the country’s biggest lender, a sign that a recovery in Asia’s third-largest economy is gathering pace.
Companies are steadily drawing down from a US$71bil (RM312.4bil) loan pipeline, Dinesh Kumar Khara, chairman of State Bank of India (SBI), told Bloomberg News.
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