The domestic market remains fairly strong, which should support growth. The corporate sector is likely to see a pick-up as the focus on infrastructure will revive owing to the government’s push (70% of fresh capex being led by the private sector). SBI has a strong pipeline of sanctions and its undisbursed term loans are coming down which indicate that utilization is increasing. The manufacturing, export, renewables, batteries and EV segments are likely to be the key growth drivers. The rural sector is also witnessing an improvement due to Agri startups, which, along with SME value chains, are focusing on improving the efficiency. Overall, loan growth is likely to moderate from the current level of 16-17% and credit growth is likely to be 14-16% over FY23/FY24, Motilal Oswal said in a report after its interaction with Khara.