TOUGH 12 MONTHS AHEAD FOR INDIA’S BANKS: S&P

MUMBAI - The troubles for the Indian banking system are likely to increase in the next 12 months due to slow economic growth and sluggish fiscal reforms. However, the situation is likely to improve in the fiscal year ending March 31, 2015, according to ratings agency Standard & Poor's. The report notes that the performances of both the Indian economy and the corporate sector are likely to start improving in fiscal 2014.