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Shoppers walk through the New Market area in Kolkata, India, on Tuesday, April 30, 2019. Prime Minister Narendra Modi is seeking a re-election bid in national elections | Photo by Prashanth Vishwanathan | Bloomberg

Moody’s projects 11.5% contraction of Indian economy this fiscal, cites low credit growth

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.
(Photo for Representation)

India’s credit crisis fuels woes at weaker firms amid Covid crunch

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.
Commuters cross a road near Chhatrapati Shivaji Maharaj Terminus railway station in Mumbai

Prolonged slide in credit ratings of Indian companies is beginning to end

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.
Residential towers Lodha The Park of Lodha Developers International Ltd. sit in Mumbai

Credit health of Indian companies sinks to 8-year low on weak growth

Credit scores of 188 Indian borrowers were lowered in 9 months through December, compared with 103 upgrades, according to India Ratings & Research.
Representational image | Dhiraj Singh/Bloomberg

Finally, some good news: NBFCs show signs of recovery, indicating credit crisis could ease

Two of four indicators compiled by Bloomberg that reflect the state of non-bank financial companies strengthened last month from October.
File photo of people lining up outside an HDFC Bank ATM| Bloomberg

HDFC Bank sees signs of economy reviving in rural and semi-urban areas

Loan outreach programmes in rural areas have given the sense that consumption in rural & semi-urban areas is turning more positive, HDFC Bank says.
Electronic board indicates the latest stock figures at the the National Stock Exchange in Mumbai. | Photographer: Dhiraj Singh | Bloomberg

Debt-laden Vodafone, Indiabulls & Glenmark likely to be taken out of MSCI index

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

Yes Bank slump, lowest in a decade, sparks selloff

Yes Bank is among lenders worst affected by the shadow banking crisis, which has seen small- and mid-sized lenders being hit the hardest.
India is looking at a larger credit crisis. (Representational Image) | Photo: Dhiraj Singh | Bloomberg

Altico Capital is latest NBFC to default on debt repayment & add to India’s credit crisis

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.
A cashier examines Indian rupee banknotes at the Mayuresh Watches and Traders watch and mobile phone store in the Byculla area of Mumbai

Unsecured loans are not the answer to the credit crisis at India’s big banks

Unsecured loans can only offer banks a temporary shelter during a downturn in collateralised credit. That protection doesn’t last long.

On Camera

Woman working on a laptop (Representational image) | Flickr

Is it ‘shirk from home’? Jury’s still out as Europe begins working from home again

There is no evidence yet of mass remote work’s impact in the longer term on company productivity, but the current outlook is mixed at best.

Harley Davidson to discontinue sales and manufacturing operations in India

Harley’s decision comes weeks after Toyota Motor Corp. said it won’t expand further in India due to the country’s high tax regime.

Defence

File photo of Army Chief General M.M. Naravane at Leh to review security situation and operational preparedness along the Line of Actual Control in Eastern Ladakh | Photo: Twitter/@adgpi

Indian soldiers at LAC have go-ahead to open fire in self-defence, India tells China

With no signs of disengagement on the ground in Ladakh, where India and China have been locked in a stand-off since April, both sides will stay dug in during the region’s bitter winter too.
Illustration: Soham Sen | ThePrint

Suspect all, fix all? Is that the motto of our new ‘National Suspicion State’?

It’s not just Modi government or BJP, but even state governments, judiciary are getting caught in a ‘we suspect all’ mindset. Is India becoming a National Suspicion State?