The credit growth of Scheduled Commercial Banks (SCBs) has slowed significantly to 9.6 per cent as of June 13, marking a sharp fall from 19.1 per cent recorded during the same period last year, according to a recent report by the State Bank of India (SBI), reported news agency ANI.

The report attributes the moderation in growth to weaker momentum and unfavourable base effects.

Excluding the merger impact of HDFC Ltd with HDFC Bank – which took effect on July 13, 2023 – the adjusted credit growth stood at 10.6 per cent as on 13 June 2025, compared to 15.5 per cent a year earlier, ANI reported.