As banks become increasingly risk-averse in lending to the non-banking financial companies (NBFCs), while mutual funds and insurance companies slow down their investment of debt papers from the sector, the firms are trying to lure retail investors with high yields in a falling interest rate environment. .
For the companies, non-convertible debentures, or NCDs, also allow them to diversify their liability profile. The Infrastructure Leasing & Financial Services (IL&FS) fiasco and Dewan Housing Finance Corporation (DHFL) defaults, both AAA companies before they stumbled last year, has ...
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