Property developers next in firing line from NBFC liquidity crisis
Monday, October 29, 2018, 4:30 PM
India's banking liquidity crunch is extending to the nation's property developers, threatening to derail a nascent recovery in the property sector. Home builders in India have increasingly been turning to non-bank lenders or NBFCs for funding as traditional financiers struggle under bad loans. But following the government's seizure of troubled shadow bank IL&FS earlier this month, that avenue may be choked off too.