Moody's downgrades Indian banking system outlook to 'negative'

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Moody's downgrades Indian banking system outlook to 'negative'

Apr 02, 2020 16:41 IST

Moody's Investors Service on Thursday revised its outlook for Indian banking system to negative from stable, as it expects banks' asset quality to deteriorate due to disruption in economic activity from the coronavirus outbreak. Moody's report mentioned that a sharp decline in economic activity and a rise in unemployment will lead to a deterioration of household and corporate finances, which in turn will result in increased delinquencies.

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