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Liquidity constraints faced by some non-bank financial institutions (NBFIs) will tighten credit supply and slow growth to a little over 7 per cent for the current fiscal, Moody's Investors Service said Thursday.
"...The liquidity constraints faced by some NBFIs in India, after the default of Infrastructure Leasing &amp; Financial Services Ltd (IL&amp;FS) in September 2018, will likely tighten overall credit supply in the country," Moody's said in a statement.
Besides, any further distress in the NBFI sector will pose significant downside risks to India's growth outlook, it said.
Moody's Managing Director and Chief Credit Officer (Asia Pacific) Michael Taylor said India's GDP growth will slow to just above 7 per cent for fiscal 2019 and 2020.
Indian economy grew at 7.1 per cent in the July-September quarter, lower than 8.2 per cent in April-June.
The rating agency said NBFIs are an important provider of credit to the economy and, in the fiscal ended March 31, 2018, accounted for nearly 17 per cent of total loans and one third of total retail loans.
"In a downside scenario, a sharper slowdown in NBFI credit supply would significantly tighten overall credit availability, drive up borrowing costs and reduce economic growth by around half a percentage point over a few years," Moody's VP and Senior Analyst Joy Rankothge said.
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<blockquote data-lang="en"><a href="https://twitter.com/hashtag/10KiKamaai?src=hash&amp;ref_src=twsrc%5Etfw">#10KiKamaai</a> | एक्सिस सिक्युरिटीज़ के राजेश पालविया ने आज किस स्टॉक को चुना 10 की कमाई के लिए।<a href="https://twitter.com/AnilSinghviZEE?ref_src=twsrc%5Etfw">@AnilSinghviZEE</a> <a href="https://twitter.com/deepaliranaa?ref_src=twsrc%5Etfw">@deepaliranaa</a> <a href="https://twitter.com/rajeshpalviya?ref_src=twsrc%5Etfw">@rajeshpalviya</a> <a href="https://t.co/KT9ZQQeYPU">pic.twitter.com/KT9ZQQeYPU</a>
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<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Weaker nominal GDP growth over a prolonged period would weigh on India's fiscal strength and the overall sovereign credit profile, Rankothge added.

Liquidity constraints faced by some non-bank financial institutions (NBFIs) will tighten credit supply and slow growth to a little over 7 per cent for the current fiscal, Moody's Investors Service said Thursday."...The liquidity constraints faced by some NBFIs in India, after the default of Infrastructure Leasing &amp; Financial Services Ltd (IL&amp;FS) in September 2018, will likely tighten overall credit supply in the country," Moody's said in a statement.Besides, any further distress in the NBFI sector will pose significant downside risks to India's growth outlook, it said.Moody's Managing Director and Chief Credit Officer (Asia Pacific) Michael Taylor said India's GDP growth will slow to just above 7 per cent for fiscal 2019 and 2020.Indian economy grew at 7.1 per cent in the July-September quarter, lower than 8.2 per cent in April-June.The rating agency said NBFIs are an important provider of credit to the economy and, in the fiscal ended March 31, 2018, accounted for nearly 17 per cent of total loans and one third of total retail loans."In a downside scenario, a sharper slowdown in NBFI credit supply would significantly tighten overall credit availability, drive up borrowing costs and reduce economic growth by around half a percentage point over a few years," Moody's VP and Senior Analyst Joy Rankothge said.Watch Zee Business Tweet Video here:#10KiKamaai | एक्सिस सिक्युरिटीज़ के राजेश पालविया ने आज किस स्टॉक को चुना 10 की कमाई के लिए।@AnilSinghviZEE @deepaliranaa @rajeshpalviya pic.twitter.com/KT9ZQQeYPU— Zee Business (@ZeeBusiness) December 14, 2018Weaker nominal GDP growth over a prolonged period would weigh on India's fiscal strength and the overall sovereign credit profile, Rankothge added. 

Moody's Managing Director and Chief Credit Officer (Asia Pacific) Michael Taylor said India's GDP growth will slow to just above 7 per cent for fiscal 2019 and 2020.

Liquidity constraints faced by NBFIs to tighten credit supply, dampen growth: Moody&#039;s

Liquidity constraints faced by NBFIs to tighten credit supply, dampen growth: Moody's

news-liquidity-constraints-faced-by-nbfis-to-tighten-credit-supply-dampen-growth-moodys-75880

Liquidity constraints faced by some non-bank financial institutions (NBFIs) will tighten credit supply and slow growth to a little over 7 per cent for the current fiscal, Moodys Investors Service said Thursday. ...The liquidity constraints faced by some NBFIs in India, after the default of Infrastructure Leasing Financial Services Ltd (IL FS) in September 2018, will likely tighten overall credit supply in the country, Moodys said in a statement. Besides, any further distress in the NBFI sector will pose significant downside risks to Indias growth outlook, it said. Moodys Managing Director and Chief Credit Officer (Asia Pacific) Michael Taylor said Indias GDP growth will slow to just above 7 per cent for fiscal 2019 and 2020. Indian economy grew at 7.1 per cent in the July-September quarter, lower than 8.2 per cent in April-June. The rating agency said NBFIs are an important provider of credit to the economy and, in the fiscal ended March 31, 2018, accounted for nearly 17 per cent of total loans and one third of total retail loans. In a downside scenario, a sharper slowdown in NBFI credit supply would significantly tighten overall credit availability, drive up borrowing costs and reduce economic growth by around half a percentage point over a few years, Moodys VP and Senior Analyst Joy Rankothge said. Watch Zee Business Tweet Video here: #10KiKamaai | एक्सिस सिक्युरिटीज़ के राजेश पालविया ने आज किस स्टॉक को चुना 10 की कमाई के लिए।@AnilSinghviZEE @deepaliranaa @rajeshpalviya pic.twitter.com/KT9ZQQeYPU — Zee Business (@ZeeBusiness) December 14, 2018 Weaker nominal GDP growth over a prolonged period would weigh on Indias fiscal strength and the overall sovereign credit profile, Rankothge added.  

Moodys Managing Director and Chief Credit Officer (Asia Pacific) Michael Taylor said Indias GDP growth will slow to just above 7 per cent for fiscal 2019 and 2020.