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The CII-IBA Financial Conditions Index for the first quarter of the current financial year (FY21) has dropped to 44.2 from 60.5 in the fourth quarter of FY20 on expectations of deterioration in the economic conditions in the wake of Covid-19 pandemic.
Also, organisations across the world are uncertain about the whereabouts of their cash flows and business prospects. India is not an exception, said the Confederation of Indian Industry (CII) and Indian Banks’ Association (IBA) in a joint statement on Sunday.
The economic conditions turned for bad because of worsening funding liquidity, external financial linkages and economic activity index. However, respondents
