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Fitch predicts 7.3% growth rate

In its second-quarter Sovereign Credit Overview for Asia Pacific region, Fitch said the growth rate will accelerate as money supply has recovered to its pre-demonetisation level and disruptions related to the rollout of GST have diminished. It said India’s ratings balance a strong medium-term growth outlook and favourable external balances …

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Fitch places Punjab National Bank on RWN with downgrade possibility

Fitch Ratings has placed Punjab National Bank (PNB) on ‘Rating Watch Negative’ (RWN), reflecting a possibility of downgrade following the $1.77 billion fraud. The agency has placed the bank’s Viability Rating of ‘bb’ on RWN. The agency added that the fraud — the biggest ever in the banking history– has …

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