India Economics

India Chart Book

24 October, 2018

Shadow bank concerns come to the fore

India’s shadow banking sector has been thrust into the spotlight over the past few weeks, triggered by news that the Infrastructure Leasing & Financial Services (IL&FS) Group is likely to miss several debt repayments this year. Fears over contagion in the sector have caused funding costs to jump and there has been a sharp drop in non-bank financial (NBFC) stocks. As it happens, we think that the risk of a systemic crisis in the shadow banking sector is manageable. NBFC

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