Moody's: Negative view for India banks

The fundamental credit outlook for the Indian banking system remains negative, reflecting the currently challenging economic conditions and the rising level of problem loans and the resulting adverse implications for asset quality, said Moody's Investors Service said it in a new report.

The negative outlook for the Indian banking system expresses the agency's view on the likely future direction of fundamental credit conditions in the industry over the next 12 to 18 months, Moody's said. It does not represent a projection of upgrades versus downgrades, the agency said.

Moody's said its main concern is the deteriorating asset quality and volume of restructured loans.

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