Bankers tell RBI credit growth in FY11 to be over 20%

Bankers tell RBI credit growth in FY11 to be over 20%

Mumbai: Indian bank chiefs have told the Reserve Bank of India that credit growth will be over 20% in FY11 and they dont expect interest rates to go up soon, a senior banker said on Monday.

“We feel there is no upward pressure on interest rates, NPA’s(non performing assets) will be lower" federal bank and chiefexecutive officer MVenugopalan said.

Some bank chiefs met RBI Governor D Subbarao ahead of the annual monetary policy scheduled for 20 April to discuss on issues including outlook on credit, deposit growth, lending rates, economic growth and inflation.

Close