India's credit rating lifted to 'A-' by Japanese agency

Japan Credit Rating Agency (JCR) upgraded India's foreign and local currency long-term issuer ratings from 'BBB+' to 'A-', citing the country's high GDP growth rate of 7.8%. It commended the government's policies to develop digital public infrastructure and introduce GST and noted that the banks' non-performing loan ratio has dipped below 2%. JCR also raised India's country ceiling to 'A'.