The young Tilak Varma was included in the Indian team for the Asia Cup as the sixth specialist batter.
Moody's said it reflects India's weaker performance on fiscal.
Moody's, which cut its FY14 growth estimate to 4.5 per cent recently, said economic growth will be lowest in a decade.
Reliance Industries Ltd is expected to invest Rs 30,000 crore (Rs 300 billion), of the total Rs 70,000 crore (Rs 700 billion) announced, in its telecom arm Reliance Jio Infocomm over the next two years, credit rating firm Moody's said on Monday. The investment in the telecom business is a credit negative for RIL because RJio will not generate any EBITDA (an indicator of cash flows) for at least next 12 months, it said. Moody's added however that RJio will be a formidable competitor in the sector making it a credit negative for top telecom operators already in the field. "Based on RIL's March 2014 annual report, we estimate that it has already invested about Rs 400 billion (Rs 40,000 crore) in Reliance Jio, and we expect RIL to invest the next Rs 300 billion in Reliance Jio over the next two years," Moody's Investors Service said in a statement. RIL recently announced that it will launch commercial 4G telecom service of RJio in 2015 entailing investment of Rs 70,000 crore. RIL has said that RJio will initially cover about 5,000 towns and cities accounting for over 90 per cent of urban India, as well as over 215,000 villages in India and the target is to expand this to over 600,000 villages. Moody's said RJio will be a "formidable competitor in India's telecom sector" as it will enter the business with financial muscle. RJio's entry into highly competitive telecom sector is also credit negative for incumbent mobile operators and market leaders Bharti Airtel and Vodafone India because "it will undoubtedly result in intensified competition that will lead to declines in average revenue per user and margins". But, it also said that strong spectrum holding of incumbents; existing large subscriber-bases and well- established brand equity; offering 2G and 3G services (apart from 4G services being launched) as well as marketing and distribution architecture mitigate much of the near-term competitive threat from Reliance Jio for them. "Furthermore, given issues of language and literacy, large parts of rural India remain a substantially voice-based market where near-term demand for 4G services may be muted," Moody's said.
Listing the series of reforms which led to the upgrade, he said while demonetisation took the economy towards greater formalisation and digitisation, use of Aadhaar ensured targeted delivery of government benefits.
'KKR's form over the past two weeks is not going to be relevant tomorrow. They have got a lot of experience in that team. There are lot of players who know how to win play-offs. So, we make sure that we focus on us and play with the same mindset we have been playing so far'
Moody's said the government will face challenges in achieving its deficit target for the fiscal year ending March 2021, amid persistent structural and cyclical headwinds to growth.
Former captain and coach Anil Kumble believes having totally different squads in limited overs and Test format is the way forward for India in international cricket.
BCCI sources said while skipper Sourav Ganguly favours Chappell, vice-captain Rahul Dravid and Anil Kumble prefer Moody for the India coach's job.
Talks are underway with the Australian to take over the job held by John Dyson, whose term ended last month.
Global ratings agency Moody's on said it has a "negative" outlook on the country's banking system due to concerns over asset quality and the high interest rates.
The state-owned bank's loss largely offsets the Rs 1,800-crore (Rs 18-billion) capital injection the government will make in FY14.
Moody's wanted to learn from the Finance Ministry officials, the steps taken to check subsidy outgo and impact of the proposed right to food bill on the exchequer.
The agency said that over the next two years new NPL formation rates would witness a gradual decline.
The coach of Sunrisers Hyderabad Tom Moody is hoping for Yuvraj Singh's speedy recovery ahead of season nine of the Indian Premier League. The Hyderabad-based franchise made some smart picks in the 2016 IPL Player Auctions. But the biggest name that caught everyone's attention was Yuvraj. However, the senior all-rounder is recovering from an injury, that he sustained during the World T20 and is expected to miss out on the first two weeks of IPL. "A player like Yuvraj Singh is important to any team. He is not only a match-winner with the bat but he is a very useful bowler in those middle overs," Moody said. "Sadly, Yuvraj will be out for a couple of weeks but we don't know how long that is going to be," Moody hoped for Yuvraj's speedy recovery from an ankle injury.
It has blamed lack of political will for the slow reform process.
Pointing out that these recent measures are incremental rather than radical, Moody's said, these steps will sustain higher gross domestic product growth and address some of the constraints on the country's sovereign credit profile.
"The downgrade would mean they would have no buyers for their debt papers. It would also impact borrowing from overseas banks," said a Mumbai-based analyst.
Credit rating agency Moody's Investors Services said on Monday that it had upgraded India's country ceiling for foreign currency debt to Ba1, the top of the speculative grade, from Ba2 due to a substantial improvement in the external liquidity.
India's finance minister Pranab Mukherjee is all set to become the next President of the country.
Moody's has revised to positive the outlook on the long- term ratings of private sector lenders
There are plenty of summer fashion goals for you.
Unseasonal rains and hailstorm are likely to disrupt supplies.
Predicting that a worsening fiscal position because of repeated tax cuts would further weaken investor confidence in India, Moody's on Wednesday said now it is for the Reserve Bank of India should to take measures to revive the economy.
'But their bowling is poor. Beyond Jasprit Bumrah, there is no one to actually support them in that bowling attack, and the CSK batters took them apart.'
Moody's downgraded local currency bank deposit ratings.
Pointing out that loosening cycle of monetary policy by RBI began only in October, Moody's said, it might not have led to an immediate rebound in domestic consumption. However, the RBI on Thursday stated that monetary measures taken by it were 'appropriate'.
Dhoni picked as skipper of IPL's all-time greatest team
Rating agency Moody's on Tuesday cautioned that a third front government created by regional parties could lead to capital flight and delay economic recovery.
Australia batsman Shaun Marsh's mentor Tom Moody said the cricketer's biggest challenge now is to fight through the nagging injury problems that are hampering his rise.
RBI is likely to keep interest rates stable in the near term, revealed Moody's. It may also ease its monetary policy stance later in the year.
On Tuesday, Economic Affairs Secretary Arvind Mayaram told reporters that economic growth this financial year would be over five per cent and the numbers in the second quarter would be better than the first quarter which yielded gross domestic product expansion of 4.4 per cent, a four-year low.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
'We forecast real GDP growth to moderate to 6.7 per cent in the year ending March 2018.' 'However, as disruption fades, we expect to see a rebound in real GDP growth to 7.5 per cent in the next fiscal year.'
Credit rating agency Moody's Investors Service on Friday assigned senior implied issuer ratings of Ba1 to India's Tata Power and Indian Oil Corp -- one notch above the sovereign rating it assigns to India.\n\n\n\n
'The assessment of most people is that there is a stable economic and political environment in India and that is attractive to investors.'
Oil and Natural Gas Corporation, India's largest oil producer, may go in for foreign debt to fund its overseas acquisitions and it has asked Moody's to do a credit rating.
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