Banks face challenges in deposit accretion while maintaining margins
With rising interest rates and persistent inflation, the Reserve Bank of India remains in withdrawal of accommodation mode and India Ratings said, this and a high base effect, would mean that banking system credit would grow at 13.5% y-o-y in FY24, down from 15% in FY23
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### Instruction: Banks face challenges in deposit accretion while maintaining margins

### Response: With rising interest rates and persistent inflation, the Reserve Bank of India remains in withdrawal of accommodation mode and India Ratings said, this and a high base effect, would mean that banking system credit would grow at 13.5% y-o-y in FY24, down from 15% in FY23