Fitch Ratings upgraded nine Indian institutions, including SBI, ICICI Bank, and Axis Bank, from negative to stable. Bank of Baroda (BOB), Bank of Baroda (New Zealand) Ltd, Bank of India, Canara Bank, Punjab National Bank (PNB), and Union Bank of India are among the other institutions to get a upgrade. Fitch Ratings has upgraded 9 India-based banks’ Long-Term Issuer Default Ratings (IDRs) to Stable from Negative, while upholding their IDRs.
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