Finance ministry on Tuesday said ratings agency Moody's Investors Service has upgraded the short-term ceiling on foreign currency bank deposits to P-3 from NP.

A

A customer is served at a counter at a foreign exchange store in Hong Kong

Thomas Mathew, joint secretary in the finance ministry, said the latest rating upgrade is just a clarification and is part of Moody's rating action in December.

Moody's last month unified India's local and foreign currency bond ratings at Baa3 and said the outlook on the ratings was stable.