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Investment

Indian shadow bank dollar bonds drop

NEW DELHI: Credit scores of several Indian shadow lenders were downgraded by S&P Global Ratings due to liquidity risks amid an economic downturn brought on by the pandemic, triggering a drop in some of their bonds.

Banking

Modi’s bank bailouts may distract focus from growth slump

MUMBAI: India’s biggest bank overhaul in decades may hurt the nation’s bad loan clean-up and slow the lending approvals needed to reverse its economic slump.

Corporate News

Funds shun exposure to India’s shadow bank debt

MUMBAI: Mutual funds continue to shun Indian shadow lenders’ debt despite a liquidity boost from the nation’s central bank and measures from the government to quell investor wariness toward them

Retail

India’s Taj Hotel chain to sell assets as economy weakens

MUMBAI: The luxury hotel chain controlled by India’s Tata Group is looking to sell some assets and avoid owning new properties in an effort to further pare debt, as it braces for a slump in consumer spending.