No systemic risk build-up seen in India's bank credit - cenbank deputy Patra

MUMBAI, Sept 21 - India is on track to become a $5 trillion economy by 2027 and at present, there are no visible signs of overheating, Reserve Bank of India Deputy Governor Michael Patra said in a recent speech delivered in Cambodia.

"Our assessment, based on a menu of approaches, indicates that current rates of credit expansion are not pointing to systemic stress building up – warning lights flash in the Indian context at growth rates of 16-18%." This growth has been boosted by a merger between India's largest bank HDFC Bank Ltd and HDFC Ltd, which became effective July 1.

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