Additionally, unsecured loans, used vehicles financing and the MSME segment are expected to propel growth, CRISIL said on Wednesday
Crisil downgraded the India growth forecast by 30 bps to 7 per cent while Icra pegged the economic expansion at 6.5 per cent for the second quarter of FY2022-23.
Banks’ credit to NBFCs rose by 30.6% year on year to Rs 11.7 lakh crore in September 2022, mainly due to a favourable base effect, the RBI data shows. This is nearly double the overall credit growth in the system
A Crisil report sees aluminium companies maintaining robust operating profits due to healthy domestic demand.
The S&P-owned rating agency said its revenue from operations rose 19.6 per cent to Rs 683 crore in the reporting third quarter (the firm follows the calendar year as its financial year).
Analysts believe with Brickwork Ratings out of the picture, other credit rating agencies stand to gain more business, albeit marginally
The deadline, which was to run out on September 30, has been extended to November 30
The bonds are rated AA+ by CRISIL and will close for subscription later this week.
The housing finance company will pay an annual coupon of 7.85% on this issue, and had invited commitment bids from bankers and investors earlier in the day, they said.
Banks have increased credit exposure to the commercial and residential real estate segment over the years
Rating agency’s senior director and deputy chief ratings officer expects banks’ credit growth to pick up to 11-12 percent in FY23. CRISIL may also look at revising this forecast upwards, he said
The RBI may go for a 25 basis points rate hike in September and possibly another one before the end of this year.
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Among the grey skies of inflation, a widening CAD and a weaker rupee, the bright spots are an uptick in contact-intensive services, higher tax collections and the forecast of a normal and well-distributed monsoon
The pandemic dented travel and tourism globally, causing the industry a loss of almost $4.5 trillion. Domestic visitor spending decreased by 45 percent, while international visitor spending declined by 69.4 percent compared to 2019, according to an estimate by the World Travel & Tourism Council.
The export of finished steel had reached a record high of 18.3 million tonnes in the 2021-22 financial year and the prices were at their all-time high, the agency said on Monday.
The agency expects borrowing cost of NBFCs (Non-Banking Financial Companies) to go up by 85-105 basis points (bps) in this fiscal owing to recent hikes in repo rate by 90 basis points in two tranches and an expected rise of another 75 bps in the remaining fiscal.
Inflation is likely to be brought within the target rate in the last quarter, the economist said
In private companies, CEOs get paid 137 times more, with tyre, auto OEM and textiles sectors showing the highest disparity. say the report. Surveyed firms rated pay parity as the fourth most difficult ESG target to meet
They are nearly 4.5x the number of adverse news around environmental violations, according to a Crisil report