Moneylife » Economy & Nation » Economy » Moody's retains India's rating outlook at stable
Moody's retains India's rating outlook at stable
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| 25/06/2012 12:11 PM |
Moody's retaining India's outlook at stable comes against the backdrop of two other leading agencies - S&P and Fitch lowering the credit rating outlook to negative
New Delhi: Ratings agency Moody's on Monday retained outlook on India's rating at stable despite slowdown in gross domestic product (GDP) growth rate saying that it is unlikely to be even a medium-term feature, reports PTI.
Moody's Investors Service in a statement said, "It is maintaining its stable outlook on India's rating as various credit challenges -- such as weak fiscal performance, tendency towards inflation and an uncertain investment policy environment -- have characterised the Indian economy for decades, and are already incorporated into the current Baa3 rating".
On the other hand, it said that certain recent negative trends -- such as lower growth, slowing investment and poor business sentiment -- are 'unlikely to become permanent or even medium-term features of the Indian economy'.
Although, Moody's expects that global and domestic factors, including potential shocks in agriculture, could keep India's growth below trend for the next few quarters.
India's GDP growth rate slowed to 6.5% in 2011-12 against 8.4% in the previous two financial years. The government expects the economic growth in the current fiscal at around 7.6%.
Moody's retaining India's outlook comes against the backdrop of two other leading agencies - Standard and Poor's and Fitch lowering the credit rating outlook to negative.
On the rupee's sharp depreciation in the recent months, Moody's said it does not raise the government's own debt service burden significantly.
The BSE 30-scrip index Sensex was trading higher by 130.54 points at 17,103.05 at 10.40 hrs.
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BUZZBUZZ 1 year ago
We as customers have the right to expect the Best service but that does not mean we act in a boorish manner. I have seen many customers hollering on their phones in the banking hall. Also many customers deem it their privilege to barge into the branches after office hours and many come in shorts and ugly attire. Also many don't believe in Queues and would like to be served first. I have also noticed customers being abusive to service providers. Customer is King-but that does not mean he can act according to his whims and fancies.
Gopinath Prabhu 1 year ago in reply to BUZZBUZZ
If someone is hollering and screaming on phone bank shall have all rights to ask them to talk in a low voice since bank is a public place. But given the situation where you spend considerable time to complete transaction in a bank, you cannot expect anyone to switch off their mobiles phones, given it has become a important instrument of communication, especially if you are businessman.
As of your comment on dressing sense, it reminds of my father story during his college days. In those days students used to come to college wearing lundi/mundus and one who wore pant was looked upon as it was indecent. Now if someone goes wearing a mundu to college, he will be looked upon.
I am all for ban of use of mobile in banks, if the same ban is made applicable to the staff as well who wasted public time by chatting on phone.
param 1 year ago in reply to BUZZBUZZ
"many come in shorts"
agree with you on the other concerns, but what is wrong with shorts!!! of course if it is a business meeting with the manager, i can understand why formal attire would be expected.
a v moorthi besides TIHAR 1 year ago
Why certain offices object to use of mobile phone is their office staff can be filmed in situations which may not be complementary. for eg in the said SBI branch if staff from a particular counter is not available in his seat for considerable period of time and long Q of customers is waiting and branch head is unable to act someone using a mobile can catch it in camera and can complain with evidence. ( of course today if the management wants they can track thro login reports as to what any staff was doing a particular time of day during office hours). it can also seen in certain branches staff take lunch during counter hours sitting in their counters and nothing can be more uglier if some CJ offers it to news channel and same is broadcast.
Vikas Gupta 1 year ago in reply to a v moorthi besides TIHAR
I totally agree with Mr Moorthi. I have also experienced a sign board in PNB & SBOP Branch. While I was asked not to use mobile phone in a PNB Branch while the staff was still using the mobile phone at that time too. Is there different laws of using Mobile phones in Bank Premises for Customers & Staff?
Secondly, about Lunch Hours, its a common practice adopted in Rohtak District by PSU Babk Staff to extend Lunch Hours form 2-3 pm instead of 2.15-2.45 pm. They are treating it as their Birth Right now & No Bank Officers or District Administration is taking any action against them.