Short term measures not impressive,says SBI

Not enthused by RBI steps unveiled yesterday to attract capital flows,SBI Chairman Pratip Chaudhuri has said the central bank measures were short-term in nature while the country required equity and foreign investment for long-term growth.

Sharing India Incs views,SBI chief said,There is a need for more equity investment in the country and enhancing capabilities for raising exports as at present we import more and export less.

These are short-term measures while the country needs steps for long-term growth, Chaudhuri told reporters here last evening while commenting on the measures taken by the Reserve Bank to arrest the slide of the rupee.

Meanwhile,SBI has said it will recruit about 10,500 employees during the current financial year to manage the growing business of the bank.