India's largest lender and RBI unite in sending warning signals

India GDP forecast for FY25: The State Bank of India (SBI) lowered its FY25 GDP growth forecast to 6.3%, down from the Reserve Bank of India's (RBI) 6.6% projection. The RBI also lowered its forecast due to weaker domestic activity and inflation. Slowing urban consumption and global economic challenges further complicate India's growth outlook, impacting job creation and the government's economic goals.