It will take some more time for the credit offtake to pick up, Dhiraj Relli, MD & CEO, HDFC Securities said.

While the retail credit portfolio will continue to grow, the lending to the corporate sector will be low as no new investments are taking place, particularly in the private sector.

"Lending to agriculture, personal loan, housing and other mortgage loan has been growing and will continue to grow. But the lending on corporate side will remain low till investments start picking up once capacity utilisation improves from the current levels," Relli said at a media round table here on Wednesday.