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Bank resolution framework changes credit positive: Moody's

Jul 02, 2020 17:06 IST

Moody's Investors Service on Thursday said the amendments to India's bank resolution framework are credit positive as they will help preserve depositor confidence. On June 26, the government amended the Banking Regulation Act, 1948, allowing the Reserve Bank of India to initiate the resolution of a weak bank by reconstructing its capital or merging it with another bank without the prior requirement of imposing a moratorium on its depositors or creditors.