More than one-third of this amount (Rs 6,000 crore or Rs 60 billion) is likely to go to the country's largest lender, State Bank of India, while the demand for most other banks is less than Rs 1,000 crore (Rs 10 billion) each.
The reason for both the officials being sent on leave is the same - an anonymous complaint received by the market regulator against the agency.
A look into 10 positive aspects of the Indian economy.
Modi said a separate rating agency would help the economies of the member countries as well as other developing nations.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
Bad loans are turning nightmarish for Indian banks.
Out of 200-odd countries, just 16 nations have the coveted triple-A rating.
