Bank credit to grow 10 pc in FY22: Crisil

 

 

Banking system’s credit growth will almost double to 10 per cent in 2021-22 on the economic recovery and policy interventions, ratings agency Crisil said on Thursday. The quantum of gross non-performing assets (NPAs) will rise up to 10.5-11 per cent by the end of 2021-22, which is about a percentage point lower than what was initially expected, the agency said. The GDP growth is expected to stand at 11 per cent for the newly begun fiscal year, after a 7.7 per cent contraction in the pandemic-impacted 2020-21, it said.