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Business 20 Jul 2019 | 3:08 PM

Rating agencies knew of stress at India's IL&FS, but gave good ratings

MUMBAI/NEW DELHI: Credit rating agencies for years assigned high ratings to India's Infrastructure Leasing & Financial Services (IL&FS) and its group companies despite its deteriorating financial health, according to a special audit conducted by Grant Thornton India.

Business 14 Jul 2019 | 12:59 PM

Dewan Housing posts first loss as business grinds to a halt

MUMBAI: Beleaguered Indian shadow lender Dewan Housing Finance Corp. posted its first quarterly loss in more than a decade, missed interest payments and cast doubt on its ability to continue as a going concern.

Business 25 Jun 2019 | 12:00 AM

Yes Bank co-founder’s family plans stake sale

Mumbai: Indian banker Rana Kapoor’s family is planning to sell a stake in their six-year-old mortgage finance company, sources said, as rising wariness in the credit market erodes growth prospects of shadow finance firms.

Business 16 Jun 2019 | 11:55 PM

Shadow banking crisis raises risk of Indian bad loan redux

MUMBAI: Just as India’s banks emerge from under a pile of bad loans to large energy, steel and other industrial companies, they are facing a new reckoning from the accelerating crisis in the country’s shadow banking sector.

World 24 May 2019 | 10:26 AM

India's jobs deficit: Project in Gujarat struggling to create employment

GANDHINAGAR, India (Reuters) - (This is one of a series of stories on the difficulties the Modi administration has faced in creating jobs.)

World 23 May 2019 | 7:37 PM

India's Modi will need to hit the ground running with economy, Pakistan

NEW DELHI (Reuters) - From a shortage of job opportunities and a stuttering economy to tense ties with old foe Pakistan, Indian Prime Minister Narendra Modi will face a host of challenges after winning a big majority on Thursday.

Business 04 May 2019 | 12:00 AM

India averts full-blown shadow lender crisis

TROUBLES among India’s non-bank financiers will persist for at least a year even if the danger of a full-blown financial crisis has passed, according to the head of the nation’s most valuable bank.

Banking 26 Feb 2019 | 4:04 AM

US$22b gone, yet India's shadow banks face more dark days

MUMBAI: As key engines of loan growth in the world’s fastest-expanding major economy, they once were investor favorites. But now traders won’t go near India’s shadow banks.

Business 26 Feb 2019 | 12:00 AM

India developers facing difficulty to get loans

Drying up of liquidity comes on top of years of sluggish home sales

Corporate News 28 Jan 2019 | 5:54 AM

Tycoon races to end mess that erased US$1.6b off Zee

MUMBAI: Indian media tycoon Subhash Chandra scrambled over the weekend to stem a crisis that wiped $1.6 billion off his flagship Zee Entertainment Enterprises Ltd.’s market value on Friday and threatened to derail his plans to sell a stake in the company.