Tag: banking

Recap helps weak credit profiles of Indian State Banks

Newsroom24x7 Network Mumbai: The Indian government’s USD32 billion recapitalisation programme should help in part to mitigate the risks that Indian state banks face on account of weak asset quality and poor earnings, says Fitch Ratings. However, unwinding of these risks will take some time, implying that resolution of bad assets and continued high credit costs

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Subdued performance of corporate sector moderated the demand for bank credit: RBI

Newsroom24x7 Staff Mumbai: Weak domestic demand and subdued performance of the corporate sector moderated the demand for bank credit. As a result, at the end of March 2015, gross outstanding credit of scheduled commercial banks increased by 9.5 per cent to ₹ 68,784 billion, as against an increase of 13.7 per cent during the previous

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IDFC’s IDR is driven by its standalone credit strength

Singapore/Mumbai: Fitch Ratings has today affirmed India-based IDFC Limited’s (IDFC) Long-Term Issuer Default Rating (IDR) at ‘BBB-‘ with Stable Outlook. The rating has simultaneously been withdrawn. KEY RATING DRIVERS Fitch is withdrawing IDFC Limited’s rating as the rating is no longer considered to be relevant to the agency’s coverage because the company has demerged its

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