Moneycontrol News
The crisis of confidence in the NBFC sector seems to have blown over with Rs 80,000 crore-worth of commercial paper to be rolled over in November. Except for a few units of Infrastructure Leasing & Financial Services (IL&FS) that have defaulted, other NBFC players have managed to weather the storm, indicating that there is no systemic crisis as of now.
Banks and mutual funds continue to buy commercial papers issued by NBFCs despite the RBI's diktat ruling out the creation of a special liquidity window.
M Saraswathy is in conversation with Ravi Krishnan, Deputy Executive Editor, Moneycontrol, to discuss the underlying factors that caused the confidence deficit in India's shadow banking sector and how it managed a modest rebound in the aftermath of defaults at IL&FS.
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