Credit growth in this fiscal doesnt seem to be on an optimistic trend for any entity including RBI, government, rating agencies as well as banks. Lending majors like State Bank of India and ICICI Bank have already dipped their credit targets in the very first quarter of this fiscal.

These lenders were earlier tipping credit offtake to reach more than 20% which they have now slashed down to 18%.

The largest lender of the country, SBI has kept its credit growth target for this fiscal at 16-19% rather than 19-20% earlier.

Chanda Kochhar, MD & CEO, ICICI Bank said, "Growth rate for industry and for us may not be as high as 25% is something that many of you must have expected a few months ago, but still 18-20% growth keeping these factors in mind is possible."

According to MV Nair CMD, Union Bank, "It is a lean season now and the credit growth trend is actually coming down. The deposit growth is substantially higher."