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.

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.

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.