Bad loans are turning nightmarish for Indian banks.
However, the Indian economy is expected to bounce back in 2021, the World Bank said.
Out of 200-odd countries, just 16 nations have the coveted triple-A rating.
The bank had earlier announced that it would double its medium term note borrowings to shore up the tier-II capital to $10 billion this fiscal.
Modi said a separate rating agency would help the economies of the member countries as well as other developing nations.
'The Indian economy is in slowdown and growth may stay slow,' notes Devangshu Datta.
The market breadth was negative. Out of 2,855 stocks traded on the BSE, there were 1086 advancing stocks as against 1,642 declines.
