• SENSEX
    NIFTY 50
Economy

India's shadow banking sector likely to face shake-up after default

Updated : September 28, 2018 12:50 PM IST

Industry officials and experts say they expect Indian regulators to cancel the licences of as many as 1,500 smaller non-banking finance companies because they don't have adequate capital, and to also make it more difficult for new applicants to get approval.
Infrastructure Financing and Leasing Services Ltd (IL&FS), a major infrastructure financing and construction company, sent shockwaves through the NBFC sector when it defaulted on some of its debt obligations in recent weeks.
Then last Friday, a large fund manager sold short-term bonds issued by home loan provider Dewan Housing Finance at a sharp discount, raising fears of wider liquidity problems.
India's shadow banking sector likely to face shake-up after default

You May Also Like

Live TV
Advertisement