“Dnyanada Vaidya believes HDFC Bank's stated goal of bringing its Loan-to-Deposit Ratio (LDR) to 90% by FY27 appears challenging. She estimates the LDR will stabilize between 91-92% by FY27, requiring deposit growth to be 400-500 basis points higher than the projected 15% loan growth. Returning to pre-merger LDR levels of 87-88% is also seen as difficult, despite the bank's levers for deposit mobilization.”