Skip to Navigation Skip to Posts Skip to Content
[EM] India's Rate Cuts Hit a Deposit Wall as Credit Growth Slips to 15.0%
The day in view

[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

Read next

Macro Indicators in Focus

📚 What housing starts really measure, and why single-family versus multifamily matters more than the headline

3 min read
Featured Post The day in view

📰 Daily Macro Roundup: 2026-09-17

3 min read

Become a Member

Daily and weekly briefings on global markets, for self-directed investors who want to be informed, not doomscrolled.

Sign up now

Daily macro and markets briefings for self-directed investors. Global coverage, no doomscrolling.

© 2026 Macro Soup - Macro Soup is an independent publisher of financial news and research. The information provided in this website (the "Content") is general, impersonal, and for informational and educational purposes only. It does not constitute investment, financial, tax, or legal advice, nor a recommendation, offer, or solicitation to buy, sell, or hold any security or investment. Macro Soup has no regard for any recipient's specific investment objectives, financial situation, or needs. Investing involves substantial risks, including possible loss of principal, and past performance is not indicative of future results. You should consult your own advisors before making investment decisions and should double check all Content before you rely on it. Please review the full Disclaimer.