Indian shadow bank Infrastructure Leasing & Financial Services (IL&FS), which collapsed late last year, may not have disclosed bad loans on its books for years despite a big part of its loan book having soured, a report from India’s central bank said. <\/p>\n
The Indian government took control of IL&FS late last year after it defaulted on some of its debt, triggering wider concerns about risk in the rest of the country’s financial system. The government also appointed a new board. <\/p>\n
The central bank’s report, included in regulatory filings by IL&FS on Wednesday, found that IL&FS, one of India’s biggest non-banking finance companies, or shadow banks, had not declared bad loans in the four years to March 31, 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"
Indian shadow bank Infrastructure Leasing & Financial Services (IL&FS), which collapsed late last year, may not have disclosed bad loans on its books for years despite a big part of its loan book having soured, a report from India’s central bank said. The Indian government took control of IL&FS late last year after it defaulted on some of its debt, triggering wider concerns about risk in the rest of the country’s financial system. The government also appointed a new board. The central bank’s report, included in regulatory filings by IL&FS on Wednesday, found that IL&FS, one of India’s biggest non-banking […]<\/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":[135,130,168],"tags":[],"class_list":["post-287460","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/287460","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=287460"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/287460\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=287460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=287460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=287460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}