The sharp decline in growth had many analysts assuming the Reserve Bank will deliver a rate cut on Thursday.
The central bank also revised GDP growth downwards to 5 per cent for 2019-20 from 6.1 per cent projected in its October policy.
The IHS Markit India Services Business Activity Index improved to 52.7 in November from 49.2 in October.
The economy is expanding well below the rate needed to generate enough jobs for the millions of young Indians.
Over 17 lakh shares of DHFL were traded on the NSE, while the BSE saw an exchange of 4.51 lakh shares.
The Gross Domestic Product (GDP) growth was registered at 7 per cent in the corresponding quarter of 2018-19.
The city-headquartered pureplay mortgage lender becomes the first NBFC/HFC to go for bankruptcy resolution.
RBI superseded DHFL's board and placed company under an administrator in the wake of governance issues and severe liquidity crisis.
The apex bank also stated that a largescale wrongdoing has been found in the PMC bank.
On Friday, the ministry notified the framework for dealing with systemically important FSPs, excluding banks.