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S&P retains ratings of 12 Indian banks

NEW DELHI OCT. 28. The global credit rating agency, Standard & Poor's (S&P), retained the ratings of major Indian banks and financial institutions such as SBI, ICICI Bank, IDBI and Bank of Baroda in terms of their outlook on foreign currency ratings.

The local currency ratings have also been retained for eight nationalised banks, S&P said in a communique from Singapore.

The eight banks whose ratings have been affirmed at the `Bbpi' level are Bank of India, Canara Bank, Corporation Bank, Oriental Bank of Commerce, Central Bank of India, Indian Overseas Bank, Punjab National Bank and Union Bank of India.

PTI

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