×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Crisil lowers estimate of bad debts

Crisil lowers estimate of bad debts
Comment E-mail Print Share
First Published: Mon, Mar 15 2010. 10 28 PM IST
Updated: Mon, Mar 15 2010. 10 28 PM IST
Mumbai: Domestic credit ratings firm Crisil Ratings Ltd has lowered its estimate of bad debts in the banking system from 5% of total advances to about 4.5%, Roopa Kudva, managing director and chief executive officer, said on Monday. Speaking at a press conference in Mumbai to mark Crisil’s 10,000th rating for a small and medium enterprise (SME), Kudva said the revised estimate follows the economic scenario in the country. She said bad debts, although down only marginally, are likely to remain high despite an economic recovery because SMEs would take time to recover from losses they incurred during the past slowdown. SMEs constitute 90% of the country’s industrial output and account for 40% of exports.
Comment E-mail Print Share
First Published: Mon, Mar 15 2010. 10 28 PM IST