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Topic: credit crisis
The investor service said India's credit profile is increasingly constrained by low growth and high debt burden, which have been exacerbated by the pandemic.
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.
Credit scores of 188 Indian borrowers were lowered in 9 months through December, compared with 103 upgrades, according to India Ratings & Research.
Two of four indicators compiled by Bloomberg that reflect the state of non-bank financial companies strengthened last month from October.
Loan outreach programmes in rural areas have given the sense that consumption in rural & semi-urban areas is turning more positive, HDFC Bank says.
The global index provider could remove sinking companies, brokers say, but is likely to add ICICI Prudential Life Insurance and Siemens this week.
Yes Bank is among lenders worst affected by the shadow banking crisis, which has seen small- and mid-sized lenders being hit the hardest.
Altico Capital, which focuses on lending to the real estate sector, didn’t pay Rs 199.7 lakh crore of interest on borrowings from a UAE bank.
Unsecured loans can only offer banks a temporary shelter during a downturn in collateralised credit. That protection doesn’t last long.
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