There is an “imminent crisis” in the non-banking financial companies (NBFCs) sector and misadventures by large companies and a credit squeeze present \u2018a perfect recipe for disaster\u2019, a top government official said on Sunday. <\/p>\n
In recent months, the country’s financial system has been hit by a default at Infrastructure Leasing and Financial Services (IL&FS) and stress at other companies, and the comments by Corporate Affairs Secretary Injeti Srinivas are likely to send a shiver down the spine of the auto industry as NBFCs play a key role in funding car purchases. <\/p>\n
\u201cThere is an imminent crisis in the NBFC sector. There is a credit squeeze, over-leveraging, excessive concentration, massive mismatch between assets and liabilities, coupled with some misadventures by some very large entities, which is a perfect recipe for disaster,” Srinivas said.<\/p>\n","protected":false},"excerpt":{"rendered":"
There is an “imminent crisis” in the non-banking financial companies (NBFCs) sector and misadventures by large companies and a credit squeeze present \u2018a perfect recipe for disaster\u2019, a top government official said on Sunday. In recent months, the country’s financial system has been hit by a default at Infrastructure Leasing and Financial Services (IL&FS) and stress at other companies, and the comments by Corporate Affairs Secretary Injeti Srinivas are likely to send a shiver down the spine of the auto industry as NBFCs play a key role in funding car purchases. \u201cThere is an imminent crisis in the NBFC sector. […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,178],"tags":[],"class_list":["post-274271","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-roads-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/274271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=274271"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/274271\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=274271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=274271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=274271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}