Indian economy weak, credit growth bottoming out: BofA Securities

Elvera Bartels

American brokerage BofA Securities on Friday stated the Indian financial system carries on to be weak, pointing to activity indicators tracked by it.

On the optimistic aspect, the brokerage stated credit score demand from customers is bottoming out and the authentic lending costs altered for wholesale rate inflation are slipping.

It can be observed that there has been a slew of reports currently about a stronger restoration remaining underway immediately after the jolt brought about by the pandemic. The governing administration expects the GDP to contract 7.7 for every cent in fiscal 12 months 2021 mainly because of the reverses.

The bad news is that the ongoing drop in our BofA India Action Indicator reinforces our look at that the financial system still continues to be weak, the brokerage stated in a take note.

The indicator fell by (-) .6 for every cent in November on major of the (-)

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