Moody's: Robust growth for Indian banks

The stable rating outlook for Indian banks reflects the country's robust credit growth against the background of a favorable economic environment, as well as improvements in the banks' overall financial metrics and strong deposit franchises, Moody's Investors Service said in its latest outlook for the country.

The ratings of most Indian banks have benefited from Moody's amended rating approach in assigning bank financial strength ratings and deposit/debt ratings in line with its joint default analysis methodology, the agency said. There is scope for consolidation in India's relatively crowded and fragmented banking system, which is likely to increase as competition intensifies, Moody's said.

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