The importance of liquidity was dramatically illustrated to local bond investors when Franklin India abruptly shut 6 funds in the biggest-ever forced closure in the nation.
The downswing in credit ratings, triggered by liquidity stress in NBFC sector, had worsened as companies struggled to raise funds & sell assets to pare debt.
A delay in lending to residential projects is adding to the mounting default risk, with as many as 5.60 lakh homes worth Rs 4.5 lakh crore stuck in top cities.
In 2022, athletes claimed they were asked to wind up training early at Thyagraj Stadium so that the IAS couple could walk their dog. Then came the memes and public outrage.
Instead of buying more Mirages outright in early 2000s, the requirement was tweaked in favour of a medium-weight, multi-role fighter with Mirage-like performance.
Pakistan not only has zero chance of catching up with India in most areas, but will inevitably see the gap rising. Its leaders will offer its people the same snake oil in different bottles.
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