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Topic: Shadow banks
Premiums investors seek to buy AAA ranked 5-year bonds of NBFC lenders over government securities declined in May after gaining for 3 consecutive months.
Authorities will be forced to take steps to keep credit markets functioning & the mutual fund industry will be a key focus, market experts say.
The rescue plan will throw a lifeline to Yes Bank which has been struggling to raise capital since the middle of last year, as it has faced a surge in bad loans.
Revitalisation of NBFCs is key to helping staunch a further slowdown in the nation’s economy.
Altico Capital India Ltd. is one of the latest caught up in India's shadow banking crisis that started in 2018.
Both the firms pull out because they were unwilling to meet creditor demands to inject as much as Rs 2,000 crore of fresh equity into Altico.
Banks are expected to benefit from bankruptcy recovery process from Essar Steel, Prayagraj Power Generation, Ruchi Soya and RattanIndia Power.
Yes Bank reported a loss of Rs 600 crore for the three months compared to analysts' expectation of Rs 400 crore.
The Indian economy is facing a perfect storm, beset by a combination of cyclical and structural factors that makes recovery doubly difficult.
S&P said if an Indian bank got into trouble, the contagion could spread to other banks “perceived to be struggling” with the same problems as failing banks.