Read more about Credit growth in fiscal 2022 to be in low double-digit: Care Ratings on Business Standard. The slowdown in economy can further delay anticipated pick-up in credit growth apart from the likely impact on asset quality.
The for FY22 is likely to remain in low double-digit on the back of muted economic activity, said on Saturday. The slowdown in economy can further delay anticipated pick-up in apart from the likely impact on asset quality. However, said Care, the sector’s medium-term prospects look promising with diminished corporate stress and increased provisioning levels across banks. The bank rate has been marginally lower when compared with previous fortnight and remained largely stable compared to period ended March. Care said this can be ascribed to risk aversion and regional lockdown imposed by states this year to curb the spread of coronavirus amid the second wave of pandemic that started in April and continued in May.
