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Moody’s Upgrades Outlook on IOB, Central Bank
February 14, 2018
Taking into account the massive capital infusion promised by the central government for the weakened public sector banks (PSBs), global financial ratings company Moody’s upgraded the ratings for the Central bank and the Indian Overseas Bank from stable to positive.
As per the Moody’s report, the ratings were revised on the basis of expected improved balance sheets, stabilization in the asset quality, funding, liquidity positions, and profitability metrics for the lenders.
The government has promised to infuse Rs. 1.53 lakh crores into the PSBs out of which Rs. 80,000 crores it will pump into 20 PSBs by this March.