Global rating agency Moody’s has downgraded rating of Central Bank of India’s local and foreign currency deposits from Baa3 to Ba1 following the government’s policy to differentiate between public sectors banks (PSBs) when distributing capital.
The rating action reflects Moody’s assumption of a lower level of support from the Government of India following its recent decision indicating policy to differentiate between public sector banks (PSBs) when distributing capital.
Central Bank of India has been serving more than 3,50,00,000 account holders through its 4,400 branches, 6 extension counters, 29 Satellite offices, 1,970 ATMs and 2,413 ultra small branches (USBs).
