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Billionaire banker says govt should support public sector banks
MUMBAI: India should prepare to inject capital into state banks and private-sector lenders need to strengthen their balance sheets, to help bolster the economy against the coronavirus pandemic, according to a senior banker.
MUMBAI: India's banks are freezing credit lines to shadow lenders as the coronavirus crisis shuts down commerce in Asia's third-largest economy, but leaving this sector in the lurch risks wider financial contagion.
Kolkata: Srei Infrastructure Finance Ltd plans to stop financing Indian infrastructure projects after three decades in the business, as a slowing economy and crisis in the shadow bank sector dries up funding lines.
SINGAPORE: All around HDFC Bank Ltd, India’s biggest lender by market value, the news seems to be bad and getting worse: economic growth is slowing, loan losses are rising and shadow banks are mired in crisis.
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.
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.