Business Maverick: India Closely Monitoring 50 Shadow Banks for Signs of Contagion

some of the assets that banks purchase from them, thereby improving their liquidity. The RBI, which is now a regulator of the housing finance companies, also eased liquidity ratio rules for banks to encourage refinancing for shadow lenders.

“We are monitoring the NBFC sector very closely,” Das said in his office adorned with two replicas of Lord, a form of the Hindu god Vishnu, revered in his native Odisha state. “There have been improvements but challenges still remain.” “We are constantly in touch with the large lenders to such NBFCs including housing finance companies where we see some signs of fragility,” Das said.of about 9.3 trillion rupees as of March 31, 2018, according to RBI data. Repayment of some of the loans maybe at risk as the cash crunch among non-banks has raised questions around solvency of real-estate companies, and threatens to push 70% of them out of business in the next two years, Goldman Sachs Group Inc. said in a note earlier this month.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS MAVERICK: Hydrogen fuel-cell cars could spell boom or bust for SA platinum industryEffervescent multi-entrepreneur Elon Musk famously described hydrogen-powered fuel-cell cars as ‘mind-bogglingly stupid’. The 200,000-plus people employed in SA’s platinum mines better hope he is wrong, because if he is right, the platinum industry is destined to go the same way as SA’s gold industry.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Monday, July 22: Five Things You Need to Know to Start Your DayHong Kong protests descend into violence again, the U.K. steps in to lower Iran oil tensions, and Japan’s Prime Minister Shinzo Abe falls short of a supermajority despite election win. Here’s what’s moving markets.
Source: dailymaverick - 🏆 3. / 84 Read more »