Bank credit to grow 400-500 bps higher at 9-10% next fiscal: Crisil

Bank credit is seen growing 400-500 basis points (bps) higher at 9-10 per cent next fiscal as the Indian economy recovers, supported by budgetary stimulants and measures announced by the Reserve Bank of India (RBI), Crisil said on Monday. he ratings agency has already raised India's GDP growth forecast for next fiscal to 11 per cent, or 100 bps higher than what was presaged in December 2020. In the current fiscal, bank credit is seen rising 4-5 per cent despite the sharpest contraction the Indian economy has seen since Independence.