Moody’s has downgraded the long-term local and foreign currency deposit ratings of HDFC Bank and SBI.
A day after downgrading India’s sovereign rating, Moody’s Investors Service on June 2 downgraded two top Indian banks – State Bank of India (SBI) and HDFC Bank – and took rating actions on nine other Indian banks.
Moody’s has downgraded the long-term local and foreign currency deposit ratings of HDFC Bank and SBI.
Why did Moody’s take rating action on banks? Should investors be worried? Is there a chance of upgrade in the near future? Watch this edition of Business Insight to know more.
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First Published on Jun 3, 2020 10:48 pm
