Fitch Ratings has revised the Outlook to Stable from Negative on the Long-Term Issuer Default Ratings (IDR) of 9 India-based banks, while affirming their IDRs.

• As per Fitch Ratings SBI, ICICI Bank and Axis Bank Including nine Indian institutions stabilized from negative. Bank of Baroda (BOB), Bank of Baroda (New Zealand) Limited, Bank of India, Canara Bank, Punjab National Bank (PNB) and Union Bank of India Among other institutions to get the upgrade.
• Fitch Ratings has upgraded the long-term issuer default ratings (IDRs) of 9 India-based banks from negative to stable while retaining their IDRs.