INSUBCONTINENT EXCLUSIVE:
DHFL news: DHFL said it has met its financial obligations worth Rs
40,000 crore since September 2018
Dewan Housing Finance Corporation Ltd or DHFL shares fell more
than 18 per cent on Thursday, a day after credit ratings agencies ICRA and Crisil downgraded its commercial papers
The downgrade of DHFL's commercial papers to their lowest level came after the lender missed payments on bonds which were due this week
The action by the agencies, described by the mortgage lender as "extremely surprising" and "unwarranted", sparked worries of growing
distress in the country's shadow banking sector
Dewan Housing Finance said it is taking steps to ensure there are no defaults on any of its obligations
On the National Stock Exchange, DHFL shares nosedived 18.3 per cent to Rs 91.30 apiece, marking their biggest intraday fall since February
