MUMBAI : The sharp decline in economic activity due to the coronavirus outbreak may drag credit growth to a multi-decade low of 0-1% in FY21, credit rating agency Crisil said on Monday.“This is in sharp contrast to Crisil’s earlier expectation of 8-9% credit growth before the pandemic struck.
In other words, the impact of the pandemic on credit growth will be a whopping 800 basis points (bps)," credit ratings agency said.