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Credit ratings agency ICRA said the credit growth of retail non-banking finance companies (NBFCs) could grow in the second half of the current financial year as there are signs that the economy is likely to gather pace.
The ratings agency has predicted a credit growth rate of 11-14 per cent for NBFCs in FY 2015 from an estimated growth of 8 per cent witnessed in the last financial year.
ICRA also said it expects non-performing assets reducing for these NBFCs as a possible pickup in industrial activity could result in some easing in the second half of the current fiscal.
"Overall, 90+ days past due (dpd) delinquencies for the retail assets of NBFCs increased to 4.5 per cent in March 2014 from around 3.6 per cent in March 2013, while 180+ dpd delinquencies rose to around 1.9 per cent from 1.3 per cent over the same horizon,” ICRA said.
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