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NBFCs could face solvency stress despite surplus system liquidity

Saturday, December 14, 2019, 9:41 PM

Moody's said that Indian non-bank-lenders could face solvency stress in 2020 despite surplus system liquidity, with high-street banks advancing less money to a financing industry segment battling fund constraints for a while. Ever since the default by IL&FS became public in September-2018, NBFCs as a sector has been facing a severe liquidity crisis. Central-bank data showed that bank funding to NBFCs has slowed down.
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Mumbai: 5 held for duping companies on pretext of giving loans

Tuesday, December 3, 2019, 7:49 AM

Mumbai-police has arrested gang-of-fraudsters for duping companies on the pretext of providing them loans at lower-interest-rates. The gang, involving five-people, has duped over a dozen of companies across the country with the promise of securing-high-value-loans from banks. All the accused, identified as Shoaib Kasam Chandiwala, Ravindra Baburao Kamat, Shafique Babumiya Shaikh alias Mamu, Vijay Virendra Grover and Hiren Kishor Bogayata, are natives of Mumbai.
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Yes Bank seeks up to $2 billion in preferential new share issue

Saturday, November 30, 2019, 8:10 PM

Yes Bank Ltd aims to raise up to $2 billion in a massive issue of new shares to institutional investors and wealth managers as it soaks up the impact of bad loans in the country's crisis-hit shadow banking and real estate sectors. Banking analysts say most of the funds raised by Yes Bank will be used to provide for bad loans.

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