Industry credit expected to grow over 12%: FICCI-IBA survey

A survey conducted by industry body FICCI and Indian Banks' Association (IBA) suggested that the outlook for non-food industry credit growth over the next six months is optimistic with 62 per cent of the participating banks expecting non-food industry credit growth to be above 12 per cent.

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The nineteenth round of the FICCI-IBA survey was carried out for the period January to June 2024.

A total of 22 banks including public sector, private sector and foreign banks participated in the survey. These banks together represent about 67 per cent of the banking industry, as classified by asset size.

The Indian economy and the banking sector remain robust and resilient, the survey found.

With improved balance sheets, banks are supporting economic activity through sustained credit expansion. However, credit growth is outpacing deposit growth, which could lead to liquidity challenges for the banking system.