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Moody's has 13 Indian banks on the rate watch

Last Updated 29 May 2009, 17:45 IST

“Moody’s Investors Service on Friday placed the ratings of 13 Indian commercial banks on review for possible downgrade,” it said.
It did so because it reformed its criteria of assessing India’s ability to support the banking sector in the event of crisis in the sector.
Factors that Moody’s will consider for assessing the rating of banks include the size of the banking system in relation to the government’s resources, the level of stress in the banking system, the foreign currency obligations of the banking system relative to the government’s own forex resources and changes to the government’s political patterns. The banks whose ratings are placed under review are — SBI, ICICI Bank, PNB, Bank of Baroda, Bank of India, Canara Bank, HDFC Bank, IDBI Bank, Union Bank of India, Axis Bank, Central Bank of India, Syndicate Bank and Oriental Bank of Commerce.

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(Published 29 May 2009, 17:45 IST)

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