India’s Strong Credit Growth might Indicate that a Recovery is Underway
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A report by the credit rating agency CRISIL estimates that India's credit growth rate could touch 15 per cent per annum in 2023 and 2024. Over the last few years, Indian banks, especially government-run banks had been struggling with loans turning into non-performing assets. At the same time, companies had been deleveraging their balance sheets – as a result, both demand and supply of credit were limited. However, the tide appears to be turning as the economy recovers from the pandemic and demand for goods and services returns.
India’s Strong Credit Growth might Indicate that a Recovery is Underway
India’s Strong Credit Growth might Indicate…
India’s Strong Credit Growth might Indicate that a Recovery is Underway
A report by the credit rating agency CRISIL estimates that India's credit growth rate could touch 15 per cent per annum in 2023 and 2024. Over the last few years, Indian banks, especially government-run banks had been struggling with loans turning into non-performing assets. At the same time, companies had been deleveraging their balance sheets – as a result, both demand and supply of credit were limited. However, the tide appears to be turning as the economy recovers from the pandemic and demand for goods and services returns.