Moody's terms Indian banking system from 'negative' to 'stable'

Last Updated: Nov 02 2015 | 7:35 PM IST

Mumbai, Nov 02 (ANI): International ratings agency Moody's on Monday upgraded India's banking system to 'stable' from 'negative'. Vice President and Senior Credit Officer Srikanth Vadlamani said that due to an improvement in operating environment for banks, he believes that the non-performing loans (NPLs) would still grow but the government infusing 70,000 cr in the banking system which would recapitalize and help and aid the public sector banks. Moody's rated 15 banks in India that together account for around 70 percent of system assets. Four are private-sector banks and the remaining 11 are PSU banks.

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