S&p Global Ratings

S&P raises India FY27 GDP growth forecast to 7%, sees 25 bps RBI rate hike

S&P Global Ratings on Wednesday raised India's GDP growth projections for the current fiscal to 7 per cent, citing robust economic activity and forecasting that the RBI could hike interest rates by 25 basis points in FY27. In its Economic Activity for Asia Pacific report, S&P estimates consumer inflation to average 5.1 per cent in FY27. The Indian economy grew higher than expected at 7.8 per cent in the June quarter. S&P said factors like robust industrial activity, healthy consumption, strong goods exports, and accelerating government investment have driven the growth. "We have consequently upgraded our GDP growth forecast for the current fiscal year, ending March 31, 2027, to 7 per cent, from 6.6 per cent previously," S&P said, adding growth could ease in the second half of the fiscal year as the tailwinds from General Sales Tax rationalisation and income tax cuts diminish. Weather-related risks warrant close monitoring. Cumulative rainfall was 15 per cent below ...

$127 bn foreign currency deposit mobilisation boost to Indian banks: S&P

S&P Global Ratings on Monday said the USD 127 billion mobilised by Indian banks through a special deposit scheme to attract US dollars is a "shot in the arm" for Indian banks as it has eased the tough funding conditions and boosted liquidity. Indian banks raised a record USD 127 billion in deposits through foreign currency non-resident bank (FCNRB) accounts between June 8 and August 31, 2026. S&P said the amount is equivalent to about 4.5 per cent of the banking system's deposit base as of March 31, 2026. "India's banks have received a shot in the arm. Favourable rates mobilised the country's diaspora to channel large deposits back home. We see this as broadly positive. "The momentum has eased the tough funding conditions, in which credit growth has exceeded deposit growth for the past four years," it added. To attract foreign capital, the Reserve Bank of India (RBI) between early June and August absorbed the full hedging cost for the principal on these 3-5 year tenor ...

S&P assigns 'BBB' rating to BoI on sufficient capitalisation, solid funding

S&P Global Ratings on Tuesday assigned 'BBB' long-term rating to Bank of India (BoI) on sufficient capitalisation, solid funding, and healthy liquidity. The US-based agency said the ratings reflect the likelihood of extraordinary support for the state-run bank from the government, if needed. The long-term rating on BoI is one notch above its assessment of the stand-alone credit profile (SACP) for the bank, S&P said while assigning its 'BBB' long-term and 'A-2' short-term issuer credit ratings to the bank. 'BBB' rating denotes adequate capacity of the institution to meet its financial commitments. The stable outlook on long-term rating reflects our view that the bank will maintain its adequate capital position and solid funding and liquidity over the next two years. "We base our view on BoI's very important role as a public sector bank in promoting financial inclusion through increased access to deposits and lending. The bank has very strong links with the government via the ...

Insurance sector poised for growth, but profitability concerns persist: S&P

S&P Global Ratings says reforms and low insurance penetration support long-term growth, but underwriting pressures and weak profitability remain key risks for insurers

India's insurance sector set for 'massive' growth despite risks: S&P

India's insurance sector is poised for 'massive' long-term growth, supported by structural reforms, low insurance penetration, and a favourable regulatory environment, but macroeconomic headwinds and profitability pressures remain key risks, S&P Global Ratings said on Thursday. In a report titled 'India Insurance Sector Trends', S&P said favourable regulatory reforms are attracting foreign capital and accelerating M&A activity in the sector. "Accelerated industry reforms and low penetration levels to drive massive sector growth in India. Liberalization, competition and regulatory changes will shape the insurance sector's development," the report said. The government had earlier this year approved 100 per cent foreign direct investment (FDI) in the insurance sector under the automatic route. S&P said both life and non-life insurance sectors have growth potential, but profitability of non-life insurers could continue to be strained as pricing philosophies lean heavily on

IT companies risk losing ground to AI-native firms: S&P Global Ratings

S&P Global Ratings says Indian IT services companies must invest in AI, protect recurring business and deepen GCC partnerships to counter rising competition from AI-native firms

Federal Bank gets inaugural BBB- investment-grade issuer rating from S&P

S&P Global Ratings assigned the private sector lender a BBB-/Stable long-term issuer credit rating, recognising its franchise strength, capitalisation and financial resilience

El Niño drives 6.3 GW decline in India's June hydropower generation: S&P

India's hydropower generation fell by 6.3 GW year-on-year in June 2026 as El Niño affected rainfall, with higher coal-fired generation offsetting much of the shortfall, S&P Global said

S&P keeps US sovereign rating at AA+ with stable outlook, resilient economy

S&P Global Ratings was the first major credit grader to strip the US of its AAA rating in 2011 and was harshly criticized by the US Treasury at the time

Energy stress, weak monsoon to slow India's growth to 6.6% in FY27: S&P

The rating agency expects higher inflation, a possible RBI rate hike and slower economic growth amid energy market disruptions and below-normal monsoon conditions

SpaceX, other mega IPOs may have to wait years to join the S&P 500

The decision comes as Space Exploration Technologies Corp., as it's formally known, prepares to start trading June 12

India needs energy storage policy to manage supply shocks: S&P Global

S&P Global said India requires a comprehensive energy storage policy to tackle supply disruptions amid high dependence on crude oil, LNG and LPG imports

Hardeep Puri meets S&P chief, discusses energy markets, supply resilience

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Monday met Dave Ernsberger, President of S & P Global, and discussed global energy trends, supply resilience, and India's ongoing transition towards sustainable energy sources.In a post on X, Puri said, "Had a productive meeting with Dave Ernsberger, President, S & P Global. Our discussions centered on the demand supply situation in global energy markets and ways to build resilient energy supply chains. India is moving aggressively on Green Hydrogen, biofuel blending, and a range of alternative fuels, while simultaneously accelerating domestic exploration and production efforts."He added that these initiatives are aimed at building "a resilient, sustainable, and future-ready energy ecosystem for the nation," highlighting India's dual approach of strengthening conventional energy production while expanding clean energy alternatives.Earlier, Pushkar Singh Dhami met Puri at Kartavya Bhavan in New Delhi and raised .

Crude oil prices at $130 could unsettle growth outlook: S&P Global

S&P Global says crude at $130 per barrel could slow India's growth, widen fiscal deficit, raise inflation and strain corporate and banking sector performance

Oil shock may slow India's growth by up to 80 bps: S&P Global Ratings

India's robust macroeconomic and financial sector fundamentals are likely to cushion the impact of a sustained oil price shock, though economic growth could slow by up to 80 basis points if crude averages USD 130 per barrel in 2026, according to S&P Global Ratings. Under its stress scenario, corporate earnings before interest, tax, depreciation and amortisation (EBITDA) could decline 15-25 per cent in FY27, with leverage rising by 0.5x-1x, while banking sector asset quality may weaken, pushing bad loans to around 3.5 per cent. "India isn't immune to the shocks reverberating from the Middle East war. The pain of higher energy prices and supply disruptions may persist for months, crimping economic activity across households, corporations, and banks," S&P Global Ratings said in a report. However, strong corporate balance sheets, well-capitalised banks and a resilient external position provide buffers against the impact. S&P Global Ratings assumes Brent crude at USD 130 per ..

Historic release of strategic oil reserves a limited solution, says S&P

Historic release of strategic oil reserves may only partly ease global supply disruption if the Strait of Hormuz remains closed, as the oil market remains severely unbalanced

Private sector activity rebounds to two-month high in January: Flash PMI

The HSBC flash India Manufacturing PMI rose to 56.8 in January from 55 in December

S&P upgrades rating for India's insolvency regime as IBC lifts recoveries

System has strengthened credit discipline and tilted resolution process in favor of creditors, says agency

US tariffs weigh as manufacturing PMI slows to 9-month low in November

The headline HSBC purchasing managers index (PMI) figure, compiled by S&P Global, for November fell sharply to 56.6 from 59.2 in October

Tata Motors soars 13% in 3 days, outperforms split arm TMPV; here's why

Tata Motors will likely maintain its dominant share in India's commercial vehicle (CV) market, with support from India's economic growth, and favourable infrastructure and construction spending.