It had upped India's rating to Baa2 from Baa3 and changed its rating outlook to 'stable' from 'positive', saying the reforms would help stabilise rising levels of debt.
India plans to keep its fiscal deficit within 3.9% of GDP.
Government has been able to push through economic reforms, especially allowing foreign investment in multi-brand retail.
Former South African quick Dale Steyn opined that MI's frontline pacers Bumrah and Coetzee need support from other bowlers, given the rigours of the IPL. He hinted that an off-colour Pandya was not helping MI's bowling department.
Moody's cited a likely rise in the bank's non-performing assets in the near future as one of the reasons for the downgrade.
Indian economy is likely to expand in the range of 5.4 to 5.9 per cent this fiscal, as per government estimates.
The report further pointed out that the current rupee volatility will be 'less damaging than in 1991, when low reserves and a widening current account deficit prompted India's last balance of payment crisis'.
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Moody's said the negative outlook reflected uncertainty over the refinancing of Macrotech's (formerly Lodha Developers) upcoming debt maturities.
Bharti recorded $5 billion liability for past-due AGR fees, but is still completing its self-assessment to determine the final amount.
Moody's listed six agenda on the list of pending reforms -- land acquisition Bill, labour law reforms, significant infrastructure investment, tangible benefit from Make in India initiative, tax administration and PSU bank reforms
"India's gross domestic product growth to remain weak at 5.5 per cent in the fiscal year ending March 2015, as elections in mid-2014 will delay reforms needed to revive the economy," Moody's Investors Service said in a report.
India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. This shift leads to reduced LPG output, Indian refining executives said. The mantra for state-run oil companies, from Indian Oil Corporation (IndianOil) to liquefied natural gas (LNG) importer Petronet LNG, which are looking to diversify their businesses from lower-margin fuels, has been value-added petrochemicals.
The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans. The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. The group's total debt remained static at Rs 2.26 trillion in the same period.
India's economy contracted by 7.3 per cent in fiscal 2020-21. The pandemic, it said, will leave new economic scars and deepen pre-pandemic constraints.
Former Team Director Ravi Shastri will be the front-runner for the Head Coach's job of the Indian men's cricket team when the three-member Cricket Advisory Committee (CAC) meets in Mumbai on Monday to scrutinize candidates for the high-profile vacancy.
Global rating agency Moody's on Thursday placed India on a possible upgrade on foreign currency debt and painted a rosy picture for the economy, projecting a seven per cent growth.
PSBs dominate India's banking system, meaning any failure could jeopardise financial stability, as such, we expect government support will remain forthcoming, said Moody's.
The growth had slumped to sub-5 per cent in the earlier two consecutive fiscals.
Global rating agency Moody's on Monday said HDFC Bank's multiple digital outages are credit negative as such recurring incidents could lead to moderation in revenue and flight of customers to other banks. The recurring outages also risk hurting the bank's brand perception among a growing and increasingly digitally savvy customer base, and increases the potential that clients switch to other banks, which would lead to a reduction in revenue and low-cost retail funding, Moody's said in a statement.
Although fundamentals remain strong and its prospects upbeat after an impressive pace in 2007, the growth in India's domestically-driven economy would moderate in 2008 as domestic demand eases and exports cool, according to Moody's Economy.com, a subsidiary of the global credit rating agency.
The US Federal Reserve on Wednesday night hiked interest rates by 0.25%.
The global ratings agency keeps India's sovereign rating unchanged at 'BBB-' with stable outlook
Moody's assigns 'Baa3' rating on India, with a stable outlook.
Doubles specialist Wesley Moodie was named in South Africa's five-member squad for the Davis Cup World Group play-off tie against India, from September 18 to 20, in Johannesburg.
'Probability has increased for India to have improved fundamentals'.
Moody's said fiscal measures undertaken by the government -- such as corporate tax rate cuts, bank recapitalisation, infrastructure spending plans, support for the auto sector and others -- do not directly address widespread weakness in consumption demand, which has been the chief driver of the economy. In addition, interest rate cuts by the Reserve Bank of India are not being adequately transmitted to lending rates because of the credit squeeze caused by disruption in the non-bank financial sector, it said.
Moody's Investors Service has changed the outlook for the long-term foreign currency deposit ratings of a number of Indian banks -- currently rated Ba2 -- from 'negative' to 'stable' for India.
Budget clearly prioritised growth over fiscal consolidation, said Atsi Sheth, Senior VP, Moody's Investors Service.
Moody's expects that India will record the GDP growth of around 7.5 per cent in 2015 and 2016.
The senior Congress leader also said over 90 per cent of jobs are in the SME sector which requires an urgent push to boost the economy.
Moody's said together, proceeds from these transactions will result in a $ 16 billion reduction in RIL's net debt.
Although its ratings outlook for foreign currency and local currency is stable, Moody's outlook for the country says it faces challenges in macroeconomic management and a backlog of structural reforms. "India's ratings are based on the assessment of the country's moderate levels of economic and institutional strength, that are supported by a rapidly growing and well-diversified economic structure," said Aninda Mitra, VP and senior analyst at Moody's.
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It also painted a grim possibility of any major gains in the rupee during the current fiscal saying that the continuing global volatility, and domestic political uncertainty ahead of the 2014 hustings will limit chances of any significant appreciation apart from further impact growth.
'Modi must keep his members in check or risk losing domestic and global credibility,' Moody's warned.
The government emphasised that the country's credit strengths were 'much better' than most similar-rated economies.
Moody's said India's current account deficit (CAD) has narrowed significantly from 4.8 per cent in 2012 to 1.4 per cent in 2014.
The young Tilak Varma was included in the Indian team for the Asia Cup as the sixth specialist batter.
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