Debt crisis hurts corp bond market

Debt crisis hurts corp bond market

Mumbai: India's plans to expand its corporate bond market are running up against a yearlong credit crisis, in another obstacle for Prime Minister Narendra Modi's efforts to jumpstart a sputtering economy. Sales of rupee bonds rated below AAA have halved so far this year to Rs 699 billion ($9.7 billion) as a wave of debt defaults and a funding crunch in the shadow banking sector make investors reluctant to buy riskier notes.

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Deccan Chronicle

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