Speaking at GFF 2026, Chaudhry put the current pace of credit expansion at 18–19%. His outlook points to slower growth from that level, rather than a fall in the overall amount of bank lending. The forecast concerns the banking industry, not a separate growth target for Axis Bank.

Chaudhry linked part of the expected moderation to the base effect and inflows through FCNR(B) deposits. The report does not break down how much each factor could contribute to the projected slowdown, or give a separate estimate for individual lending segments.

On interest rates, he highlighted the shrinking gap between Indian and US rates as a source of risk. He identified October and December as months when rates could rise. This was a warning about a possible outcome, not confirmation that either increase would happen.

The report provides no estimate of the size of any potential rate increase. It also does not spell out how the credit-growth forecast or rate outlook could affect particular loan products, deposit offerings or customer groups. Those details remain unstated.