SFBs in India forecast 25-27% growth in advances, driven by rural and semi-urban markets, according to CRISIL Ratings.

Small Finance Banks (SFBs) in India are set to grow advances by 25-27% this fiscal year, with expansion driven by rural and semi-urban markets, according to CRISIL Ratings. Approved by the Reserve Bank of India to promote financial inclusion, SFBs are focusing on alternative non-deposit avenues for funding credit growth, with credit growth in new asset classes expected to reach 40%. The branch network has doubled over five years, and SFBs are expected to rely on term deposits for deposit mobilization.

August 26, 2024
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