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ICRA UPS FY26 CREDIT GROWTH OUTLOOK ON STRONGER DEMAND, LIQUIDITY BOOST
The Business Guardian
|November 13, 2025
Rating agency ICRA has upwardly revised its credit growth forecast for India in FY2025-26, citing improved demand following GST cuts and liquidity support from CRR reductions.
ating agency ICRA has revised upwards its projection of credit expansion in India for 2025-26 from its previous estimate, noting that improved demand post the recent Goods and Services Tax (GST) rationalisation, and liquidity boosts via the cash reserve ratio (CRR) cuts would support offtake.
The ratingagency has raised its credit offtake projection to Rs 19.5-21.0 trillion from its earlier estimate of Rs 19.0-20.5 trillion While raising the projection, the rating agency has asserted that, although banks remain
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