"India's OE (operating environment) score continues to benefit from the economy's well-diversified structure, which helps to reduce banks' exposure to specific sector-focused shocks," Fitch said, adding that the large size of Indian economy and avourable demographics should offer banks opportunities to generate profitable business and diversify risk and revenue.
The rating agency further expect banks to benefit from the gradual formalisation of the small and medium enterprise sector, through initiatives such as the goods and services tax and rapid digitalisation.
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