Fitch, Moody’s downgrade Russia to junk status as sanctions rise
Moody's lowered Russia's credit rating by six notches to ‘B3’ from ‘Baa3’, while Fitch downgraded to 'B' from 'BBB' amid rising macro-financial stability risks in wake of international sanctions.
Has Covid-19 made PSBs more vulnerable?
While Indian banks' improved financial metrics do not fully reflect the impact of the Covid-19 pandemic, the under–capitalised PSBs are likely to remain risk averse and lose market share.
Price rise to hurt car buyers in 2021
Rising commodity prices have compelled some of India's top automakers to hike car prices, from January. Experts caution this could further dampen consumer demand and delay recovery in the auto sector.
DBS Bank India enters the big league
With Lakshmi Vilas Bank in its fold, the foreign bank’s branch count jumps over 18 times. But the merger could also open up a potential Pandora's box.
Moody’s India downgrade is not unexpected: BofA Securities
While the rating agency downgraded India’s sovereign rating, BofA Securities’ economists see the present downturn as cyclical rather than structural; say fiscal stimulus is critical for recovery.
Tata Motors Q1 loss widens
Headwinds in the Indian auto market and continuing weakness at its British subsidiary’s global business made this a disappointing quarter for the company.
Short-term relief for NBFCs
The government’s partial credit guarantee on asset purchases does not address investors’ long-term concerns about the sector’s exposure to stressed real estate: Fitch Ratings.