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Message : Required fields MUMBAI (Reuters) - Indian bank credit growth hit a record low in fiscal 2020-21 and is expected to languish near those levels this year as a massive surge of COVID-19 infections risks denting India's economic recovery and forces lenders to turn cautious again. Credit growth touched a record low of 5.6% in financial year 2021, recently released Reserve Bank of India (RBI) data showed, and it slipped even further in April. "We were estimating credit growth of 8-9% for this financial year, but due to the rise in COVID-19 cases, a higher mortality rate and lockdowns ...

Indian bank credit growth hit a record low in fiscal 2020-21 and is expected to languish near those levels this year as a massive surge of COVID-19 infections risks denting India's economic recovery and forces lenders to turn cautious again. Credit growth touched a record low of 5.6% in financial year 2021, recently released Reserve Bank of India (RBI) data showed, and it slipped even further in April. "We were estimating credit growth of 8-9% for this financial year, but due to the rise in COVID-19 cases, a higher mortality rate and lockdowns in several parts of the country, downward risk...

By Researcher INFLATION eased in March after five straight months of acceleration, as food prices increased at a slower pace, the government’s statistical agency reported on Tuesday. Preliminary data from the Philippine Statistics Authority (PSA) showed headline inflation at 4.5% in March, slowing from the year-on-year rate of 4.7% in February. However, this was still above the 2.5% recorded in March last year. The latest headline figure is lower than the 4.8% median in a BusinessWorld poll conducted late last week and falls within the 4.2%-5% estimate given by the Bangko Sentral ng Pilip...

BusinessWorld THE FINANCIAL Institutions Strategic Transfer (FIST) Law will not be enough for a “turnaround” in credit growth even as it aims to help banks offload non-performing assets (NPAs), ANZ Research said in a note. “It (FIST Law) is unlikely to trigger a credit cycle until the risk profile of borrowers improves, a development that is contingent upon a broad-based upturn in the business cycle,” ANZ Research Chief Economist Sanjay Mathur said in a note sent on Thursday. Republic Act No. 11532 signed by President Rodrigo R. Duterte last week allows banks to get ri...

Publishing date: Feb 18, 2021  •  February 18, 2021  •  3 minute read  •  Article content (Bloomberg) — Indonesia’s central bank cut its benchmark interest rate to a record low and downgraded its growth outlook amid fears that a resurgence in Covid-19 cases is slowing the economy’s recovery. Bank Indonesia slashed the seven-day reverse repurchase rate Thursday by 25 basis points to 3.5%, the lowest level since the rate was introduced in 2016. The move was expected by 22 out of 29 economists surveyed by Bloomberg, while seven forecast no change. We apologize, but this video...