Day's development: India wrap in 24 hours

Moody’s changes India’s rating outlook to stable, Landslide win for BJP in GMC, Okha, Indian hockey teams pull out of C’wealth Games, A Sri Lankan melody Indians cannot stop humming, State-run NTPC’s IPO of 3 units to raise $2 billion

Day's development: India wrap in 24 hours

Moody’s changes India’s rating outlook to stable

Ratings agency Moody’s hiked India’s sovereign credit rating outlook to stable from negative, citing an improvement in the financial sector and faster-than expected economic recovery across sectors, media reported.

“The decision to change the outlook to stable reflects Moody’s view that the downside risks from negative feedback between the real economy and financial system are receding,” Moody’s said in a report on October 5.