Indian banks to maintain stable asset quality despite global uncertainty: Moody’s
The agency expects the non-performing loan (NPL) ratio to stay between 2 to 3 per cent over the next year.
The agency expects the non-performing loan (NPL) ratio to stay between 2 to 3 per cent over the next year.
In its report on the banking sector, Moody's said asset quality will hold up despite global economic uncertainty.
Escalating tensions with India could pose a significant threat to Pakistan's already strained economy. Comparatively, the macro-economic conditions in India would be stable with no expected disruptions to its economic activity, global ratings firm Moody's said on Monday.
Moody's Ratings on Wednesday said India's power sector, which is the biggest carbon emitter, will need massive USD 700 billion investment over the next 10 years to help the country achieve its 2070 net-zero pledge.
Ransomware attacks are not only going to continue, but hackers are likely to target larger organisations through supply chain vulnerabilities, a recent report by Moody's said.
On April 27, 2021, the Indian rupee closed around 74.66 against the US dollar, or about 3 per cent lower than levels in mid-March.
India recorded its highest daily surge in new coronavirus infections since the start of the pandemic, pushing its active case load further past 1 million.
Although the crisis has created substantial credit challenges, the credit downturn is expected to be relatively short-lived.
Moody's has said that India's real GDP may contract by 10.6 per cent in FY21.
The rating firm does not expect the regulators' action to materially affect the bank's existing business and financial profile.
