 "nbfc, banks, rbi, crisil, non-banking financial companies, goods and services tax, gst")
Banks and non-banking financial companies (NBFCs) are poised for a slight uptick in growth this financial year, on the back of expected pickup in consumption demand in the second half driven by government and regulatory measures.
For banks, credit growth is estimated at 11-12 per cent this financial year — a tad higher than last year’s 11 per cent. The expected reversal of corporate bond market substitution will also aid this growth. Confirming this trend, bank credit growth accelerated 93 basis points (bps) on-month to 11.3 per cent in October, snapping out of a lacklustre first half.
This growth is
