THE CREDIT GROWTH is likely to slow down in the next financial year as banks look to go slow on retail loans in response to the Reserve Bank of India' (RBI) measures aimed at curbing the expansion of retail credit.
The credit growth is expected to decline by 100 basis points (bps) to 15% in FY25. The growth, excluding the merger impact of mortgage lender HDFC with HDFC Bank, is expected to be around 16-16.5% in the current fiscal.
"Credit growth is expected to decline to 15% in the next financial year from 20.5%, which includes merger impact of HDFC with HDFC Bank, in the current fiscal," said Soumyajit Niyogi, director, core analytical group, India Ratings and Research, speaking at a webinar.
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