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Wipro 401.70↑7.60(1.93%)

After hitting road bump in Dec, bank credit growth to regain pace in Q4

Ind-Ra said the credit expansion of (Rs 6.1 trillion) does not seem like a stretch goal, given the level of economic activity in the system

Abhijit Lele Mumbai

Premium

Photo: Reuters

3 min read Last Updated : Jan 17 2023 | 9:01 PM IST

After experiencing moderation in YoY growth by the end of December 2022, bank credit in India is expected to regain pace in the fourth quarter of FY23.

The bank credit will need to expand by Rs 6.1 trillion in absolute terms in the current quarter (Q4FY23) to clock 17 per cent Year-on-Year (YoY) growth in FY23, according to India Ratings and Research (Ind-Ra).

Ind-Ra said the credit expansion of (Rs 6.1 trillion) does not seem like a stretch goal, given the level of economic activity in the system. The non-bank finance companies (NBFCs) and retail segments contributed significantly to the growth in 3QFY23.