SBI Chairman calls for tax relief on bank deposit interest to finance long-term infrastructure projects.
SBI Chairman Dinesh Kumar Khara has urged the Indian government for tax relief on interest income from bank deposits, stating that this move could encourage banks to accumulate savings for financing long-term infrastructure projects. Currently, banks deduct tax on interest income from deposits exceeding Rs 40,000 annually. The SBI anticipates a 14-15% loan growth during the fiscal year 2024-25.
June 19, 2024
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