Mumbai, March 1 (TIWN) Bank credit is seen growing 400-500 basis points (bps) higher at 9-10 per cent next fiscal as the Indian economy recovers, supported by budgetary stimulants and measures announced by the Reserve Bank of India (RBI), Crisil said on Monday.

This assessment comes in the backdrop of the credit rating agency already raising India’s GDP growth forecast for next fiscal to 11 per cent, or 100 bps higher than what was presaged in December 2020. One basis point is equal to one-hundredth of a percentage point.