FY26 was expected to be a tough year for banks. For those who expected signs of a revival in the second half of the year, the wait just got longer because GST cuts solve only a third of the problems for the country’s top lenders.
India’s sweeping cuts to the goods and services tax (GST)—with duties slashed on everything from food items to cars— have given consumers more room to spend. Bankers hope that the cuts will likely lead to more loans for retail customers and micro, small, and medium enterprises (MSME) in the coming months.
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