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Tuesday, June 2, 2020

A deeper crisis awaits Indian lenders

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THE ECONOMIC TIMESDaily Newsletter
Tue, Jun 02, 2020 | 05:45 PM IST
#Coronavirus#EconomyTracker#Whatsbuzzing
Top stories of the day
India lenders' woes may be worse than thought, Moody's says India lenders' woes may be worse than thought, Moody's says
"A deeper and more prolonged credit crunch would constrain" gross domestic product growth further, and that "in turn ...
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India unveils Rs 50,000 crore schemes to attract electronics makers
Indian carmakers offer teaser loans as banking sources say RBI softens stance
Amartya Sen, Satyarthi bat for $2.5 tn global Covid plan
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Debate This
Is India guilty of taking rating agencies too seriously?
Moody's has downgraded India by a notch to Baa3. This almost-junk classification, which comes close on the heels of sub-optimal Q4 & FY20 GDP numbers, is being seen as a proof of the rating agency's disapproval of India's recent policy measures. A falling rating, coupled with virus trouble, can push the economy deep into the red. Is this downgrading fair on India?

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A notch above junk, but that's not what is worrying economists A notch above junk, but that's not what is worrying economists
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