Credit rating agency ICRA has revised its credit growth forecast for Indian banks, lowering it to 10.5%–11% for the current fiscal year ending March 2025, down from its previous estimate of 11.6%–12.5%. The revision is attributed to a decrease in banks' exposure to unsecured retail and NBFC sectors, as well as banks scaling back their loan growth targets to manage their high credit-to-deposit (CD) ratio.
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