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NBFCs to face asset quality, liquidity risk due to Covid 2.0
By IANS |
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Non-Banking Financial Company (NBFC).. Image Source: IANS News
Chennai, April 8 : Indian non-banking finance companies (NBFC) face asset quality and liquidity risks owing to second wave of Covid-19 pandemic, said credit rating agency Fitch Ratings.
Fitch on Thursday said NBFCs will face increased challenges if the restrictions to contain the pandemic are expanded or prolonged which in turn leads to economic and operational disruption.
The credit rating agency said it had revised India s gross domestic product (GDP) forecast for the fiscal year ending March 2022 (FY22) to 12.8 per cent in its March 2021 Global Economic Outlook, from 11 per cent in the previous forecast in December 2020 due to the unexpectedly strong rebound in economic activity in late 2020 and early 2021.