30% Compounded

I also do know that India now has the best digital infrastructure for financial inclusion or financial universalisation and the fact that we have the Jan-Dhan, Aadhaar and Mobile (JAM) layer, we have Indian stack that allows you to paperless, presence-less and cashless transactions.

The fact that India is going to go from being data poor to data rich, which allows lending to be based on data, will actually make it safer. 

All these are incredibly powerful things that didn’t exist earlier and we have the perfect trifecta because India is going to grow.

So let’s say GDP plus interest rate, nominal GDP growth at 12-13 percent, credit is going to deepen because more people will get loans, so lets say that institute to 20 percent and then the fact that the PSU bank lending is going to be muted for whatever issues they have NPAs, lack of capital and so on.

So a good private sector lender whether it’s a bank or NBFC, I see no reason why they can’t grow at 30 percent compounded for the next several years simply because of the market situation.-said Nandan Nilekani