Corporate Credit

Corporate credit profile remains strong in H1 despite West Asia war: Ind Ra

Indian companies' credit profile -- a detailed account of a business's borrowing history, financial health, and repayment reliability-- remained strong in the first half of 2026-27 fiscal year despite energy shock from West Asia conflict, according to rating agency Ind-Ra. At the end of last fiscal (April 2025-March 2026), Ind-Ra had indicated that the West Asia conflict would test the balance sheet strength that corporate India had built since FY22. The conflict proved to be one of the most significant tests of corporate credit profiles since the pandemic. "The corporate credit profile continued to show resilience through 1HFY27, with downward rating actions attributable to the conflict confined to a handful of issuers," Ind-Ra, Senior Director, Head of Credit Policy Group, Arvind Rao said. Upgrade and downgrade intensity both held close to FY26 levels as much of the shock was absorbed before it reached corporate cost structures. Diversified crude sourcing secured supply, and the

Corporate India sheds zombie firms as debt-servicing capacity improves: D&B

Dun & Bradstreet study shows the share of zombie firms fell to 5.5% in 2025 from 8.1% in 2017, signalling stronger corporate debt-servicing capacity

Commercial sector funding more than doubles to ₹10.65 trn in April-July

Non-food bank credit jumped to ₹6.69 trillion from ₹0.73 trillion a year earlier, while total outstanding credit from bank and non-bank sources rose 17.4 per cent by July-end

Corporate credit card overdue applicable only to corporate entity: RBI

RBI clarifies overdue and asset classification for corporate credit cards under joint liability will apply only to firms, aiming to standardise reporting and ease bank capital load

Corporate credit profile resilient in FY26 with higher rating upgrade: Icra

Corporate credit profiles remained resilient in 2025-26, with rating upgrades significantly outpacing downgrades, reflecting healthy balance sheets, steady domestic demand, and continued policy support, ICRA said on Wednesday. During FY26, ICRA upgraded 388 entities compared to 124 downgrades, resulting in a strong credit ratio of 3.1 times, a notable improvement from 2 times in FY25 and 2.1 times in FY24. The overall credit quality remained benign, supported by stable operating performance across sectors and sustained infrastructure-led growth, it said, adding power, real estate, hotels, auto components and road sectors accounted for a significant share of rating upgrades. However, pockets of stress persisted in segments such as microfinance and select chemical players, contributing to some downgrades, ICRA said. ICRA Executive Vice President & Chief Rating Officer K Ravichandran said the alleviation of US tariff-related risks and the signing of the India-EU trade agreement had ..

Corporates return to loans; wholesale credit rises for private banks in Q3

Corporate borrowers are returning to bank loans as pricing gaps with bonds narrow, driving strong wholesale credit growth for private banks in Q3 FY26

India's pvt corporate sector posts stronger sales growth in Q2FY26: RBI

The assessment is based on abridged financial results of 3,118 listed non-government, non-financial firms.

Recent RBI policies to help banks stay at equilibrium: K V Kamath

Jio Financial Services Chairman K V Kamath says RBI's latest measures will restore equilibrium in bank lending and boost corporate credit growth

RBI move on M&A funding likely to revive corporate credit demand

Also enable corporate sector to capture sizeable share of acquisition financing mkt

Credit quality of Indian companies likely to remain stable in H2FY26

Rating agencies say easing monetary cycle, declining inflation supporting this

Credit to India Inc declines to 36% in 14 years, BCG report shows

Corporate credit share shrinks as firms tap bonds, private credit and markets; retail lending rises sharply, making balance sheets stronger and funding more diversified

Private sector firms continue to maintain high interest cover ratio

The ICR - defined as the ratio of profit before interest and taxes to interest payments - stood at 6.78 in FY25, up from 3.77 in FY20

NIM will be under pressure in first 2 quarters of FY26: Canara Bank MD, CEO

Corporate credit growth was around 10 per cent in FY25 and this year also we will maintain the same

Investors pump over Rs 11K crore in corporate bond funds in 3 months

Experts cite better risk-reward for investors with 3-year horizon

Corporate credit robust in H1, 202 issuers got rating upgrades: Ind-Ra

India Ratings and Research (Ind-Ra) on Tuesday said corporate credit profile continued its robust performance in the first half of the current fiscal with 202 issuers getting rating upgrades. Large corporates and A-rated corporates witnessed a higher number of upgrades in the first half of the fiscal, taking the downgrade-to-upgrade (D/U) ratio to a low at 0.31 for the first half, said Arvind Rao, Head of Credit Policy Group, Ind-Ra. "The corporate credit profile continued its robust performance in 1HFY25, the fourth year in a row. During this period, Ind-Ra upgraded the ratings of 202 issuers, representing 20 per cent of the reviewed portfolio, while the ratings of 62 issuers were downgraded," Ind-Ra said in a statement. Rao further said that the D/U ratio is expected to moderate marginally in the current fiscal, compared to 0.37 in the 2023-24 fiscal. "We expect issuer rating upgrades to outpace downgrades in the second half of the current fiscal," Rao said. Ind-Ra said that dur

Govt may relax 45-day payment rule for MSMEs in Union Budget 2024

The government may relax the requirement of making payments to MSMEs within 45 days of buying goods and services to check large corporate from looking at other sourcing avenues, sources said. The announcement to this effect could be made in the Budget likely to be presented on July 23. The government is considering suggestions regarding changes to Section 43B(h) of the Income Tax Act made by MSMEs during pre-Budget consultations, sources said. The government in last year's Budget added a new clause under Section 43B of the Income Tax Act to address the challenge of delayed payments faced by MSMEs in the country. According to Section 43B(h) of the Income Tax Act, introduced through the Finance Act 2023, if a larger company does not pay an MSME on time -- within 45 days in case of written agreements -- it cannot deduct that expense from its taxable income, leading to potentially higher taxes. MSMEs fear that due to this provision, large buyers could cold-shoulder MSME suppliers and

RBI flags concentration risk among govt-NBFCs, all tied to power sector

The interconnectedness between NBFCs and banks in India has seen a rise due to NBFC's increased borrowings from banks, according to the report

PayCraft partners NSDL Payments Bank, NPCI to launch corporate transit card

PayCraft, a fintech entity in online and offline payments processing, on Tuesday said it launched One Nation Corporate Card in partnership with NSDL Payments Bank and National Payments Corporation of India (NPCI). The Mumbai-based company said the card, built on an indigenously developed multi-wallet platform with transit issuance and processing capability, serves as a tax benefit instrument for corporate employees. The card also comes with a corporate expense management platform for the employer to manage their expenses digitally. "The One Nation Corporate Card will be offered to the Indian customers pan-India from June end. We aim to service a million customers both corporates and SME employees pan-India within 24 months of our launch," said Ambarish Parekh, CEO of PayCraft. Built on National Common Mobility Card (NCMC) specifications with offline enabled, these cards will advance the Government of India's vision of One Nation One Card, the company said. It also offers a solutio

Corporate credit ratings stable in H1FY24 despite global headwinds: CARE

Rating upgrades outnumber downgrades in Apr-Sep 23; global slowdown begins to bite export oriented units

India Inc faces costlier borrowing as corporate-govt yield gap widens

The yield spread between the AAA-rated 5-year corporate bond and the 5-year government bond narrowed by 7 basis points in August