Bank credit likely to grow at 4-year high of 11-12% in FY23: Report
2 years, 8 months ago

Bank credit likely to grow at 4-year high of 11-12% in FY23: Report

India TV News  

Highlights Bank credit is likely to grow at a four-year high of 11-12 per cent in fiscal 2023: Report. Bank advances to micro, small and medium enterprises could grow 12-14 per cent this fiscal Bank credit is likely to grow at a four-year high of 11-12 per cent in fiscal 2023, on the back of better economic growth and budgetary support from the government, according to a report. "Healthy economic growth and budgetary support from the government should lift bank credit growth by 200-300 basis points to 11-12 per cent this fiscal," Crisil Ratings said in the report. Its Senior Director and Deputy Chief Ratings Officer Krishnan Sitaraman said the biggest difference expected this fiscal is the upshift in the corporate credit growth trajectory, which is likely to double to 8-9 per cent. The report said bank advances to micro, small and medium enterprises could grow 12-14 per cent this fiscal, riding on the multiplier effect from some pick-up in capex.

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