Moody’s Investors Service on Thursday said loans to retail customers, especially those to low-income borrowers, will remain most affected due to the shock caused by the coronavirus pandemic.
Despite the pandemic challenges, asset quality at Indian banks has performed better than expected at the start of the outbreak, Moody’s said.”Corporate loans, in particular, have performed well because banks prior to the pandemic had largely provisioned for legacy problem loans and tightened underwriting standards,” Moody’s Vice President and Senior Credit Officer Srikanth Vadlamani said.