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L&T, SBI cautious on recovery

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State Bank of India (SBI) and Larsen and Toubro (L&T) on Friday showed cautious optimism that business may rebound from later this year from the turmoil caused by the coronavirus pandemic.SBI, India’s largest lender by assets, is hopeful of its business prospects, though it said that a proper assessment can only be made in a few months.“As far as growth is concerned, we had budgeted for a 12% growth in our loan book, but that seems unlikely in the current scenario but it should be higher than what we have done in FY20," Rajnish Kumar, SBI chairman, told reporters after the state-run lender declared its quarterly results.“We should be somewhere between 5-12%, so mid-point will be 7-8%," he said.Kumar, however, cautioned that a realistic.

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