India Ratings maintains stable outlook on banking sector in FY22
The Hindu
The rating agency has kept its FY22 credit growth estimates unchanged at 8.9% for FY22, supported by a pick-up in economic activity post Q1 FY22.
Domestic rating agency India Ratings on Tuesday maintained a stable outlook on the banking sector for 2021-22 while it expects an increase in stressed assets in retail and MSME segments by end-March. It estimates gross non-performing assets (GNPA) of the banking sector to be at 8.6% and stressed assets at 10.3% for fiscal 2021-22. "We have maintained a stable outlook on the overall banking sector for the rest of FY22, supported by the continuing systemic support that has helped manage the system-wide COVID-19 linked stress," the rating agency said in its mid-year banks outlook released on Tuesday.
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Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.