Indian banks' NPAs to peak in March: Fitch

Written by Reuters | Mumbai | Updated: Sep 27 2013, 21:31pm hrs
Fitch ratingsEarlier this week, Fitch downgraded the viability ratings on three state-run banks.
Ratings agency Fitch said non-performing assets (NPAs) at Indian banks are expected to peak as late as March 2016, compared with its earlier estimate of the middle of current fiscal year that started in April.

Fitch slashes India growth forecast to 4.8 per cent for FY'14

The initial expectation was for non-performing assets to peak around now but this has been pushed back by recent macroeconomic developments, Saswata Guha, director in the Financial Institutions team at Fitch, said on a conference call.

Fitch warns India on weak fiscal, says may cut credit rating if deficit target not met

Earlier this week, Fitch downgraded the viability ratings on three state-run banks including Punjab National Bank and Bank of Baroda citing concerns about a protracted economic slowdown, high "stressed assets" and low capital.