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Moody’s puts 13 Indian banks under review

Moody’s puts 13 Indian banks under review
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First Published: Fri, May 29 2009. 09 44 PM IST
Updated: Fri, May 29 2009. 09 44 PM IST
Mumbai: Global rating agency Moody’s Investors Service has placed the ratings of 13 Indian banks on review for a possible downgrade. The move follows the ratings firm’s global review of systemic support indicators for the banking system.
The banks under watch includes State Bank of India, ICICI Bank Ltd, Punjab National Bank, Bank of Baroda, Bank of India, Canara Bank, HDFC Bank Ltd, IDBI Bank Ltd, Union Bank of India, Axis Bank Ltd, Central Bank of India, Syndicate Bank and Oriental Bank of Commerce.
The systemic support indicators include the size of the banking system in relation to government resources, the level of stress in the banking system, the foreign currency obligations of the banking system relative to the government’s own foreign exchange resources and changes to the government’s political patterns, the rating agency said in a statement late Thursday.
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First Published: Fri, May 29 2009. 09 44 PM IST