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[EM] India's Rate Cuts Hit a Deposit Wall as Credit Growth Slips to 15.0%
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[EM] India's Rate Cuts Hit a Deposit Wall as Credit Growth Slips to 15.0%

Macro Soup Newsroom Macro Soup Newsroom 2 min read

India's bank credit growth slipped to 15.0% YoY from 16.1% as deposit growth fell to 12.2%, widening the credit-deposit gap to 2.8pp. FX reserves dropped $4.82bn to $698.49bn amid thin EM markets on Workers' Day.

Chart of India's bank credit growth trends
Visualizes the bank credit growth in India, reflecting the slowdown to 15% from 16.1% as per the latest metrics. Source

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