PSU banks, mid-sized lenders power Q3 credit growth; MFI, credit card stress eases: Nitin Aggarwal

PSU banks and select mid-sized lenders led strong Q3 credit growth, while asset quality pressures in microfinance and credit cards showed early signs of easing, says Motilal Oswal’s Nitin Aggarwal. Net interest margins are near the bottom, vehicle finance is rebounding, and gold financiers remain supported by rising gold prices, keeping the BFSI outlook cautiously positive.