INSUBCONTINENT EXCLUSIVE:
sector.
Mutual fund investments in commercial paper and bonds that mature within 90 days dropped to 3.24 trillion rupees ($46.4 billion) at
the end of March, the lowest in six quarters, data from the securities regulator show
The fallout from shock defaults last year by ILFS Group continues to make it more difficult and costlier for companies in the sector,
of more loans as the central bank steps in to provide greater liquidity to squeezed credit markets
Rating cuts on debt instruments of lenders including Dewan Housing Finance Corp
non-bank lenders and housing finance companies could be attributed to a marked reduction in credit flows to select lenders, and investor
the end of March from about 34 percent last September, Dalal said
rely heavily on selling down loans for funds in the year ended March, according to rating company ICRA Ltd.
While interventions by the
Reserve Bank of India are helping Indian credit markets regain some normalcy, a focus by investors on top-rated non-bank financier debt
holds risks for lower-rated lenders.
