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Non-banking finance sector’s profit to be Stable

Published on June 28, 2022
Current Context: As per the report non-banking financial institutions (NBFI) shows good progress in credit growth and a decrease in asset quality.
Non-banking finance sector’s profit to be Stable
  • The report also supports NBFI’s performance amid a broadening economic recovery, but few segments could still be vulnerable to higher-than-expected inflation.
  • Earlier Fitch has also revised India's 'BBB-' sovereign rating to Stable from Negative in June 2022.
  • The gross domestic product (GDP) was reinstated by 8.7% in FY22 after contracting by 6.6% in FY21.
  • It has also projected that medium-term growth potential of around 7% between FY24 and FY27.
  • Apart from that, large NBFIs' funding and liquidity profiles are likely to remain stable. Funding costs rise in line with rising policy rates both domestically and globally.

Question:

Q.1 As per the Fitch Report, the projected GDP of India between FY24 and FY27 is ________?
a. 8%
b. 7%
c. 6%
d. 5%
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