‘Credit growth to be sustained in FY25'

The credit growth in the banking sector will likely be around 14% in the current financial year and is expected to further improve next year due to an uptick in private investment, financial services secretary Vivek Joshi said.

The public sector banks (PSBS) are likely to raise around ₹60,000 crore as capital by the end of FY24 compared with 45,000 crore in the previous year, he told Prasanta Sahu. Edited excerpts: What is your view on RBI curbs on Paytm? It's a regulatory action. RBI's steps are in the public interest as there is a large customer base. Customers should not suffer. Startups or payment banks should follow the norms prescribed by RBI.

There is a view that credit growth may slow next year...