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Business 18 Jan 2021 | 7:00 AM

Stricter rules for India shadow banks likely

NEW DELHI: India’s central bank is likely to propose tightening rules on “shadow banks” in a bid to strengthen solvency and sustainability of a sector that has been showing signs of stress in recent years, two sources said.

Banking 07 Oct 2019 | 7:00 AM

India’s IndusInd Bank says worst is over

MUMBAI: IndusInd Bank Ltd, which saw a fifth of its market value wiped out over the past week on concern about its creditors, says the crisis of confidence engulfing India’s financial system is fading away.

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.