State Bank of India’s Chairman Challa Sreenivasulu Shetty’s View on US Tariff Impact

• SBI Chairman Challa Sreenivasulu Shetty predicts the direct impact of the US higher tariff scenario on India’s books and exports.

• Textiles, gems, jewellery, and aquamarine industries are expected to be impacted due to their exports predominantly to the U.S.

• Shetty stated that banks will intervene in protecting these industries and the Indian government if the tariff issue is not resolved quickly.

• He stated that relief measures are being worked with the regulator and that restructuring is not a possible relief measure.

• Shetty also mentioned that SBI General Insurance and asset management subsidiary SBI Mutual Fund are considered for listing in the Group.

• He emphasized the importance of ensuring right selling and analyzing cases of policy cancellations to prevent mis-selling.

• SBI General Insurance is piloting the concept of dedicated health insurance branches from Andhra Pradesh and Telangana.