Indian economy remains a bright spot in global landscape

However, he said the Indian Government appears to have that taken measures to alleviate payment disruptions, such as temporarily allowing use of old banknotes for purchases of fuel and agricultural inputs, have helped mitigate the negative impact.

“So we expect the slowdown to be limited and relatively short-lived and the financial system to come through unscathed. Of course, potential loan repayment risks should be monitored carefully, particularly given an already elevated level of non-performing loans,” Cashin said.

From Agencies, Featured image courtesy mapsofindia