India has reassured confidence in Aadhaar technology after the US-based rating agency highlighted concerns about it like establishing authorisation and biometric reliability. The Unique Identification Authority of India (UIDAI) issued a strong rebuttal to Moody’s Investors Service by saying, “A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, … Read more
Expecting the banking sector’s financial fundamentals to improve ahead, Moody’s in its research note said, declines in loan-loss provisions and increases in net interest margins will boost banks’ profitability. Capitalization, funding, and liquidity will be stable and support loan growth. In Moody’s opinion, banks operating environment will be stable as the economy gradually recovers from … Read more
Benefiting from strong consumer demand and high commodity prices, Indian companies will show significant growth in EBITDA over next 12-18 months, according to Moody’s. The rating agency, which has 22 Indian corporates under its scanner, said growing government spending on infrastructure will support the demand for steel and cement. Also, rising consumption, push for domestic … Read more
Moody’s downgrades India’s sovereign rating to ‘Baa3’ from ‘Baa2’ with negative outlook. This is one shot away from non investment grade – though it’s unlikely that would happen. It’s also reasonable to expect that in all likelihood, S&P will follow soon. They are currently one step higher at BBB- with stable outlook. Mostly, they would … Read more