The bank said asset quality parameters on the portfolio continue to see improvement in Q1FY23, in line with the improving trend of the past few quarters.
The rating agency said that inflation could, however, offset the growth potential to some extent by curbing the demand for credit.
Verma said that MSMEs play an important role in job creation and expansion of manufacturing base in the country, and there is a need to enhance focus on them to achieve a USD 5 trillion economy.
The panel took solace from the fact that inflation would start coming down from the second half of the financial year.
Wipro Consumer Care started the Lighting business in 1992. Over the years, the business has grown both in B2B and B2C segments to make Wipro a significant player in the category.
The Indian government should create policies that focus on GDP growth with equitable income distribution. India can then attract investments and curb high profile exits.
Fitch cuts economic growth forecast to 7.8 per cent; revises India rating outlook to 'Stable' from 'Negative'
"The Outlook revision reflects our view that downside risks to medium-term growth have diminished due to India's rapid economic recovery," it said.
Toy park to be established over 100 acres of land in Yadadri to end China’s monopoly in manufacturing, boost local toy makers’ business
Though the double-digit price rise helped India’s FMCG market grow 6% in value in the January-March quarter, it witnessed a contraction in volume terms.
It was followed by State Bank of India and Union Bank of India with 10.27 per cent and 9.66 per cent growth, respectively.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 54.6 in May, little changed from 54.7 in April, pointing to a sustained recovery across the sector.
He said this after the country reported an overall GDP growth of 8.7 percent for the year 2021-22, with the last quarter showing a growth rate of 4.1 per cent.
No risk of recession, says Chief Economic Advisor V Anantha Nageswaran; hopes private investment would pick up soon
In April, the International Monetary Fund had lowered India's growth projection to 8.2 per cent as compared to 9 per cent estimated in January.
Prolonged and accentuated inflationary pressure, rise in unemployment, fall in disposable incomes could lead to a demand shock, FMCG major Hindustan Unilever said on Monday.