No enforcement action will be taken against former bosses, including ex-CEOs James Crosby and Andy Hornby, who were criticised for the bank s failure in a 2015 report.
Many of the government’s safety net provisions continued during the second wave and have been extended further as appropriate. This was also combined with a rapid ramp-up of the vaccination programme.
plus a number of liquidity support operations. Banks, building societies, designated investment firms , central counterparties and International Central Securities Depositories are eligible to.
The second wave of the coronavirus pandemic poses a risk of asset quality and liquidity issues for non-banking finance companies (NBFC) and these challenges are likely to increase if recent restrictions to contain the pandemic are expanded or prolonged, leading to greater economic and operational disruption, Fitch Ratings said on Thursday.
The rating agency further said that an increase in the rate of infections and broadening of social distancing restrictions pose downside risks to its 12.8 per cent growth projection for the current fiscal.
“India’s non-bank financial institutions (NBFI) face renewed asset quality and liquidity risks amid a second wave of coronavirus infections,” Fitch Ratings said in a statement.
Coronavirus surge can delay Indian NBFIs recovery: Fitch ANI | Updated: Apr 08, 2021 12:05 IST
These challenges are likely to increase if recent restrictions to contain the pandemic are expanded or prolonged, leading to greater economic and operational disruption.
Fitch revised India s GDP forecast for the fiscal year ending March 2022 (FY22) to 12.8 per cent in its March Global Economic Outlook from 11 per cent in the previous forecast in December due to the unexpectedly strong rebound in economic activity in late 2020 and early 2021.
The forecast revision incorporated expectations of a slowdown in 2Q21 due to the flare-up in new coronavirus cases. However, an increase in the rate of infections and broadening of social distancing restrictions pose downside risks to its projections.