The government’s ceding of ownership and control of public sector banks (PSBs) could have significant implications for their credit profile, rating agency India Ratings and Research said on Wednesday. In the event of government ceding control of state-owned banks, the agency would reassess the government’s support stance along with implications for liability profile to reassess their long-term issuer ratings and the ratings of their deposits and other instruments. “The agency opines PSBs’ credit profile benefits significantly on account of their majority government ownership and control, and believes it has significant bearing on its expectation of government support for their liabilities, if required,” India Ratings said.