India’s domestic economic conditions will continue to be supportive for growth: Moody’s Rating
[ad_1] Moody’s Ratings on Tuesday said that India’s strong domestic economic environment will continue to support economic growth, helping banks maintain healthy asset quality and keeping systemwide nonperforming loan (NPL) levels between 2–3 per cent over the next 12 months.In a report focused on the Indian banking sector, Moody’s stated that even amid heightened global economic uncertainties, Indian banks are likely to remain resilient due to the strength of domestic fundamentals."While trade tensions have heightened economic uncertainty globally, India's domestic economic conditions will continue to be supportive for growth. That will underpin banks' asset quality, although the divergence of loan performance will remain across different product types and lenders," Moody’s said as quoted PTI.The report noted that several domestic factors—including increased government capital spending, tax relief for the middle class to boost consumption, and supportive monetary policy—will provide a cushion […]
