COVID-19 STALEMATE: MOODY’S FORECASTS AN UNPLEASANT LULL IN INDIA’S ECONOMIC CORRIDORS

• Moody’s revokes Indian financial health and rating to negative from stable.
• This is on account of slowdown in economic activity due to the coronavirus epeidemic.

Moody’s rating agency has portrayed a bleak future for Indian banking system by taking its rating to negative from stable. The prime reason for it to do so is the fallout in banks asset quality borne by the coronavirus outbreak.