The industrially advanced states such as Maharashtra, Gujarat and Tamil Nadu were the worst affected due to the pandemic, he said.
"The partial lockdown
announced intermittently across the country is also dislocating the supply chain," he added.
Asked whether the Reserve Bank of India (RBI) will extend the moratorium on loan repayments till end of the year, the SBI chief said there is "no need for extending it across the board beyond August 31, 2020".
"Some sectors have been severely affected. I expect the RBI to take a calibrated approach on the issue," Kumar said.
He said the banks had been able to absorb the shock due to the moratorium offered to the borrowers in the wake of the Covid-19 outbreak.
He said the SBI data showed that there is a rise in NPAs due to the coronavirus
crisis but it can be "manageable".
People have been cautious about increasing their liabilities by opting for the moratorium, especially in the retail, agriculture and MSME sectors, he said.
"The corporate houses have opted for the moratorium. The intent is to preserve cash. It is not that they were unable to pay," Kumar said.
He said the most-affected sectors are aviation, hotel and tourism which need help.
The impact of the Covid-19 pandemic is severe than the 2008 global financial problem, the SBI chief said.
crisis has led to the contraction of the global economy to a large extent, Kumar added.