Friday 17 November 2017



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Nifty Bank hit fresh record high as Moody's Investors Service has today upgraded the Government of India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.India's credit rating upgrade by

Moody's is a reflection of the country's growth story, Niti Aayog Vice Chairman Rajiv Kumar said today and expressed hope that other global agencies such as S&P and Fitch would follow suit.

The US-based Moody's upgraded India's sovereign rating after a gap of 13 years to Baa2, with 'stable' outlook, from Baa3 earlier, citing improved growth prospects driven by economic and institutional reforms.Former Economic Affairs Secretary Shaktikanta Das said in

a tweet: "Moody's upgrade India's credit rating after 13 years. A clear recognition of economic & institutional reforms; well paced shift towards formalisation of the economy; improvement in business climate;positive growth outlook."

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