Prime Time Zone, Webdesk: Leading rating agency Fitch Ratings on Monday said domestic banks’ credit costs would rise due to easier cash flow to revive the economy damaged by the corona epidemic. Also, bad loans are likely to increase. The financial sector, which is already facing challenges, faced more problems last year due to the corona. However, Fitch said recent quarterly results showed an improvement in net profit and asset quality.
It seems that the corona impact on small businesses is still ongoing and banks are still under pressure with issues such as rising unemployment. Unexpectedly hit the economy, small businesses. Fitch explained that factors such as high unemployment and declining consumption were not evident in the bank’s balance sheets. The Indian economy rebounded in the third quarter ending December. However, it should be noted that many sectors are operating below capacity. Fitch said in its report that several rating agencies have made it clear that pressure is already mounting on retail customers. Fitch quoted the RBI as warning in January that banks’ bad loans would rise to 14.8 per cent under severe pressure.
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