"India#39;s weaker macroeconomic backdrop is likely to add to the existing funding, growth and asset-quality strains weighing on the Indian NBFCs (non-banking financial companies) industry as a whole, underpinning our negative outlook for 2020," the ratings agency said in a statement.NBFCs to look for growth opportunities in offshore markets: Fitch
"India#39;s weaker macroeconomic backdrop is likely to add to the existing funding, growth and asset-quality strains weighing on the Indian NBFCs (non-banking financial companies) industry as a whole, underpinning our negative outlook for 2020," the ratings agency said in a statement.
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