Federal Bank aims 'mid-teen' growth in credit next fiscal on recovery hopes

Private sector lender Federal Bank is aiming for an acceleration in credit growth into "mid-teen" figures in 202122 on the back of an economic recover y, a top official said on Tuesday. Its Managing Director and Chief Executive Officer Shyam Srinivasan said the increase in virus infections in states like Maharashtra needs to be watched, but exuded confidence that it will not affect the overall economic activity, terming it a "minor blip".