The migration of the rating has resulted in a change in the rating symbol. However, this is to be construed only as a recalibration of the rating from one scale to another and not as a reflection of a change in the credit risk of the fixed deposit programme.
The bank has migrated its rating from MAAA (stable) to ‘ICRA AAA/Stable’.
The rating agency has reviewed total bank instruments worth Rs1,19,980 crore.
Bank instruments include fixed deposits, infrastructure bonds/debentures, Basel III Tier II Bonds, Basel II Lower Tier II Bonds, Basel III Tier I Bonds, and Certificates of Deposit.
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