S&P maintains Indian bank ratings

By agencies   |   Thursday, 29 September 2005, 07:00 Hrs
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MUMBAI: International ratings agency, Standard & Poor's (S&P) has retained the Indian banking industryÂ’s rating as the fiscal position of the Indian Governments are not is not strong as those in Korea, Malaysia, Taiwan, and Thailand.

However S&P noted the willingness of the Indian government to support key banks in its system may be no less than those of other Asian Governments.

While determining its sovereign ratings, S&P still treats the support of distressed banks by the Government as a contingent liability.

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