Private sector lender, HDFC Bank has said that seeing the strong demand for credit, it expects credit growth of 18-20% in this financial year.

"For the banking system, if GDP (gross domestic product) is growing at 8.5-9 percent, then the credit growth is seen at about two times the GDP," Aditya Puri, HDFC Bank's managing director said.

Puri also added that the recent housing loan scam will not affect bank's loan growth.