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HDFC Bank Managing Director Aditya Puri on September 30 said demand is picking up in semi-urban and rural India.
"We are starting to see a change in sentiment; but it won't happen overnight," Puri said in an interview with CNBC-TV18.
Puri said the bank is starting to see disinvestment and expenditure pick up.
"We are confident of growth and putting a lot of effort behind it," Puri said.
Puri also said he expects better growth for the bank every quarter.
"MSME portfolio may see some marginal hit due to shift to external benchmark but overall margins will remain intact," he said.
On the subject of Reserve Bank of India (RBI) monetary policy, Puri said that he is expecting a 25-40 bps rate cut.