economy battered by coronavirus, risk capital has dried up in India. In the past six months assets in credit-focused mutual funds, which play a crucial role as buyers for-rated bonds, have declined from $13bn to $4bn. Lending by commercial banks, burdened by dud loans even before the pandemic, has withered. Thankfully, for some companies this domestic dry spell is being offset by a stream of foreign capital.
Reliance, a telecoms and energy giant, is a glitzy example of overseas equity investment made on the premise of growth. But a quieter wave of capital is seeking out different sorts of assets, serving to stabilise local companies while offering foreign investors high returns. As a result, many of the world’s largest insurers, private-equity firms and pension and sovereign-wealth funds have become influential.
Such inflows have been a boon for India’s financial institutions. Edelweiss, a big lender and asset manager, had already been suffering after the collapse of one non-bank,, tightened domestic credit for the others. Covid-19 only made matters worse.
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PabloSpyer
Oh man this has me excited. I love gushes of all sorts. I'm a big gushhead.
This gush is a Chinese vice grip plier
shit country in deep shit now
It’s definitely a burnol moment for you!
You mean - rich foreigners buying up cheap indian assets
Admit it your analysis of a pandemic is rather dare I say shite
Foreign capital helps ease India’s credit drought
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