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Bank of America- Merrill Lynch Expects Above 15% Credit Growth in FY18
June 30, 2017
According to Bank of America- Merrill Lynch (BofA-ML), credit growth may increase by as much as 15% in the current fiscal in comparison to the 9% recorded in the last fiscal.
BofA-ML said that RBI’s Open Market Operations (OMOs) worth about one trillion rupees in the second half of the year will improve the supply of loans and slash lending rates by as much as 50 bps which will, in turn, increase the demand for loans.
As per RBI, FY17 recorded the lowest credit growth at 5.1% since Independence, which recorded a mere 1.8% growth.
