MFI portfolio rose 8.4 per cent in FY'21: Report
The sector was hit as borrowers-generally small sized loans from the bottom of the pyramid were adversely impacted in their ability to repay loans. This was due to job and income losses arising out of pandemic induced lockdown throughout the country creating economic disruptions.
Import cover of reserves may fall even at $600 billion, as imports will rise in FY'22India's foreign exchange reserves which crossed the $600 billion marks may be deceptive as the import cover of reserves - the number of months' imports that the reserves can finance - is expected to slip to less than 15 months' imports given the imports projection for FY'22 from the near current adequacy of 20 months' imports, an RBI research paper said.
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