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Indian ABS performance risks remain despite better collections: Moody’s
Mumbai, Dec 10 (IANS) Indian asset-backed securities (ABS) performance risks will remain elevated over the next 12 months, as weak economic conditions will continue to hurt borrowers’ ability to repay loans, Moody’s Investors Service said in a new report...
Business News
India’s Q2FY21 GDP contraction expected at 9.5%: ICRA
New Delhi, Nov 19 (IANS) As the economy recovers from the lows of pandemic-induced lockdown, the year-on-year contraction in India's GDP is expected to narrow appreciably to (-) 9.5 per cent in Q2FY21 from (-) 23.9 per cent in...
Business News
Moody’s revises India’s FY21 GDP contraction to 10.6%
New Delhi, Nov 19 (IANS) Moody's Investor Service on Thursday revised the contraction rate of India's FY21 GDP to (-) 10.6 per cent from an earlier estimate of (-) 11.5 per cent. The revision comes days after the Centre announced...
Business News
Paytm enters credit card biz, to issue 20 lakh in 12-18 months
New Delhi, Oct 19 (IANS) Leading digital financial services platform Paytm on Monday said it will partner with various card issuers to introduce co-branded credit cards and is aiming to issue 20 lakh cards in the next 12-18 months. The...
Business News
Overall credit growth continues to be muted: FinMin report
New Delhi, Oct 5 (IANS) Overall credit growth continues to remain muted amid weak credit demand and heightened risk aversion among banks, as per a report by the Finance Ministry. Credit to medium enterprises, however, has witnessed an uptick, according...
Business News
S&P affirms India’s sovereign ratings to ‘BBB-‘ with stable long-term outlook
New Delhi, Sep 25 (IANS) Global ratings agency S&P affirmed India's unsolicited foreign and local currency sovereign ratings with a stable long-term outlook. Consequently, the ratings were affirmed the 'BBB-' long-term and 'A-3' short -term unsolicited foreign and local currency...
Business News
Moody’s revises India’s FY21 GDP contraction to negative11.5%
New Delhi, Sep 11 (IANS) Moody’s Investor Service on Friday enhanced the contraction rate of India’s FY21 GDP to (-)11.5 per cent from an earlier estimate of (-)4 per cent. The revision comes days after India reported a massive 23.9 per...
Business News
Covid hits NPA recoveries by asset reconstruction companies
Chennai, Sep 11 (IANS) The ongoing coronavirus pandemic has also affected Asset Reconstruction Companies (ARC) as they are expected to face disruptions in their recoveries from non-performing assets received from banks, credit rating agency ICRA Ltd said. In a statement...
Business News
Fitch Ratings revises India’s FY-21 GDP forecast to 10.5%
New Delhi (IANS) Global credit rating agency Fitch on Tuesday slashed its FY-21 GDP growth forecast for India further downward to (-) 10.5 per cent from (-) 5 per cent. "We expect the shortfall of activity relative to our pre-virus...
Business News
Ind-Ra now lowers forecast for FY21 GDP growth to negative 11.8%
New Delhi, Sep 8 (IANS) Ratings agency India Ratings and Research (Ind-Ra) on Tuesday revised its FY21 GDP growth forecast further downward to negative 11.8 per cent from a negative 5.3 per cent. According to Ind-Ra, the quantum of negative...
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B’desh to receive 2 mn Covishield doses from India as ‘gift’
By Sumi Khan (IANS) Bangladesh Health Minister Zahid Maleque has said that the country would receive two million doses...