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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. ....
Supporting Colombia’s COVID-19 Crisis Response Format Like countries worldwide, the Colombian government was suddenly faced with the COVID-19 pandemic, requiring immediate response on multiple fronts. Notably, Colombia’s social protection system expanded its coverage to three million new households by the end of 2020, and throughout that year it provided additional cash transfers to almost 4.5 million beneficiaries of existing programs. These and other mitigation measures are estimated to have kept approximately 632,000 people out of poverty, narrowing a crisis-induced increase in the headcount poverty rate. Challenge The first case of COVID-19 in Colombia was identified on March 6, 2020. Recognizing that the virus spreads rapidly, the government moved on March 16 to manage the expected health crisis by imposing a national quarantine and lockdown. Activities in many sectors, including construction, transport, tourism, nonfood retail, and hospitality, came to a ....
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. ....
NBFCs to face asset quality, liquidity risk due to Covid 2.0 By IANS | 3 Views 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. ....