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.
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.
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.
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.
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.
Headwinds in the Indian auto market and continuing weakness at its British subsidiary’s global business made this a disappointing quarter for the company.
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.
