NBFI’s troubles increase with the second wave of the Covid – Fitch rating

Rating agency Fitch said non-bank finance companies (NBFIs) were once again vulnerable to asset quality amid the second wave of Kovid-19. These risks are likely to increase if sanctions are increased to control the epidemic, as it can disrupt economic activity.

The rating agency said its growth forecast for the current fiscal year was up 12.8%. Due to the increase in infection rates and the extension of restrictions such as lockdown.

India’s non-banking financial institutions will face new asset quality and cash risk amid a second wave of coronavirus infections, Fitch Ratings said in a statement.

The rating agency said Maharashtra was the center of the Kovid transition, contributing 13–14 per cent to the national GDP.

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