India's private banks draw thinner margins on tepid credit growth

Top private sector banks reported weaker net interest margins (NIMs) in the June quarter as sluggish retail loan demand pushed them towards lower-yielding corporate loans. HDFC Bank's NIM fell to 3.26%, Kotak Mahindra Bank's dropped to a 19-quarter low of 4.53%, while Axis Bank's stood at 3.46%.

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