Government rejects Moody’s Analytics Comments on India
Recently Moody’s Analytics referred to controversial comments from various BJP members. It said in a report that Narendra Modi must keep his members in check or risk losing domestic and global credibility.
Indian government dismissed this report as the personal opinion of a Junior Associate Economist employed with Moody’s Analytics.
Ministry of Information & Broadcasting said that "It is surprising that sections of the Indian media failed to make a distinction between Moody’s Analytics which is merely a data and analytics firm and Moody’s Investor Services, which provides Ratings services. It is also surprising that no due diligence was done and the readers were not informed about the difference between Moody’s Analytics and Moody’s Investor Services. Opinion of a Junior Associate Economist employed with Moody’s Analytics has been splashed all across implying it as the opinion of Moody’s Analytics."
Though Moody’s Analytics has insisted that its their report & not an individual opinion.
Moodys affirms deposit ratings for 3 banks but downgrades 2 Indian banks Click here
Moody's Maintains its Negative Outlook for Indian Banking System Click here