Credit growth will move to normal level in next financial year: SBI Chief

The economy is expected to be on normal course in early next financial year, says Dinesh Khara

The credit expansion will move to normal level in next financial year (2021-22), tracking recovery in economy for better growth, according to State Bank of India chairman Dinesh Khara.

"The economy is expected to be on normal course in early next financial year. The credit cycle may take little longer to become normal," he said while addressing annual general meeting of the Bengal Chamber of Commerce and Industry (BCCI).

The retail credit growth is back to pre-Covid level. The credit usage by corporates is dependent on demand on ground and capacity utilization, which stands at 69 per cent now.

SBI, country’s largest lender,