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Economic impact of second covid wave to hit lenders: Fitch Ratings

city New Delhi India pandemic infection Waves
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NEW DELHI : The latest wave of covid-19 infections could delay India’s economic recovery and add to the risk among financial institutions, ratings agency Fitch Ratings Inc.

said in an analysis.Fitch Ratings said the relief measures announced by the Reserve Bank of India (Ron 5 May will offer some relief to financial institutions in the next 12-24 months, but at the expense of deferring the recognition and resolution of underlying asset-quality problems.The rating agency, however, said the economic impact of the second wave could be less than the impact seen last year.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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