The credit rating agency opined that adequate system liquidity, along with sufficient capital buffers, provides enough cushion to navigate the challenges from a subdued operating environment.
Digital payment transactions have fallen sharply between April and May after sustaining a rising trend till March, hit by the second wave of COVID-19 pandemic in India.
Opportunity International Leverages Network Across India to Provide Emergency COVID-19 Relief to Millions
The 50-year-old nonprofit is marshalling its resources to deliver public health education, food supplies and direct medical support to millions in nine of the hardest hit states in India.
Money transfer companies in the UAE are trying to contribute in their own way to fight the COVID-19 pandemic situation in India by waiving charges to funds being transferred to India’s PM Cares Fund and Kerala Chief Minister’s Distress Relief Fund
Under the project, an expansion of IFC's Distressed Asset Recovery Program's work in India, IFC will invest up to $100 million in the J.C. Flowers India Opportunities Fund if certain conditions are met, with an initial commitment of $40 million.
The senior director and deputy chief ratings officer at Crisil said the sector's collection efficiency has stalled at 90 to 94 percent over the past few months, compared with the pre-pandemic level of 98 to 99 percent.
The events that have unfolded have brought to the fore the need to provide some sort of a social security net for millions of toiling masses.