In a positive turn, ICRA has revised its bank credit growth estimates for FY24 upwards to 14.9-15.3%, surpassing the previous projection of 12.8-13.0%. The surge is attributed to robust performance in the retail segment and non-banking finance companies (NBFCs), according to Anil Gupta, Senior Vice President at ICRA.
Record Incremental Deposit Mobilization: ICRA predicts a record incremental deposit mobilization in FY24 at Rs 21.7-22.3 trillion, acknowledging the challenge for banks to sustain deposit growth relative to credit expansion.
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