Downgrade Warning
S&P affirms negative outlook on India, says chances of downgrade remain
Ratings agency Standard & Poor's affirmed India's sovereign rating at "BBB-minus" with a "negative" outlook, reiterating there was a one-in-three chance of a ratings downgrade over the next 12 months, a statement said on Friday. Full Article
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MARKET EYE-Indian shares gain; banking reforms key focus
* The BSE index is up 0.97 percent while the NSE index gains 0.89 percent. * The Indian government on Tuesday is expected to seek a vote in the lower house of parliament on easing voting rules of shareholders in banks to attract foreign investment and separately, allow the central bank more powers. * The government on Monday passed a finance bill in the lower house of parliament which makes recovery of bad loans by banks easier. * Dealers are taking positions in state-run banks after the government's move to push through banking reforms, citing cheap valuations and hopes of NPA recovery. * Bank shares leading gains: ICICI Bank is up 2.4 percent, Punjab National Bank gains 1 percent while Bank of India rises 1.4 percent. (manoj.dharra@thomsonreuters.com)
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