Major Banks such as State Bank of India and ICICI bank have already altered their credit targets within the first quarter of the fiscal year.

They have changed their considerations for tipping credit and have gone from 20% intake to 18%. SBI had a tipping credit of 19-20% last year but has lowered their expectations to 16-19%. According to MV Nair, CMD, Union Bank, the growth trend is actually decreasing, which is why banks are revising their expectations.

However, the Punjab Nation Bank (PNB) states: “We are confident of achieving 20-22% credit growth target as we stated earlier”. Many other banks too are expecting growth in the coming quarters.

Meanwhile the ICICI Bank is being recognized as a leader for developing India’s 14 top female financial professionals. Kalpana Morparia worked at the bank since 1975 and is among several women who have worked their way up.

Morparia discusses ICICI Bank: “We actually built a very good bench of men and women. With the growth that India witnessed particularly after the reforms of 1991 you found that you were growing so rapidly and hiring this very talented pool, some of whom left but then another bright batch came in”.