Moody's changes the Ratings of Indian Banks and Financial Institutions
Industrial Development Bank of India, as the biggest development financial institution, has been for years the main government arm in providing financing to various infrastructure and industrial projects in the country. Although its financial position has been deteriorating in recent years, IDBI has been prompt in meeting both its local and foreign currency liabilities. Majority government ownership has meant that IDBI was extended support in the form of grants in the past and carries a good brand equity in the local debt market, which it taps frequently for funding. Both IDBI’s relative importance and the government’s track record in providing it with support are the key drivers behind this rating action stated Moody’s.
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Rating of Central Bank of India...Read Moody's Comments
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