SBI has a plan ready to cash in on India’s shadow bank crisis

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Just as India's banks emerge from under a pile of bad loans to large energy, steel and. from the accelerating crisis in the country's shadow banking sector.. Among the most vulnerable is Yes Bank Ltd., which has seen its shares plunge 65% in the past year amid wider worries about its lending policies.

India’s bad-loan crisis has peaked, says SBI chairman. The banks’ declared bad debts have risen seemingly inexorably over the past two years, reaching $130bn at the end of March, prompting a $32bn recapitalisation plan for the dominant state-controlled banks and weighing on credit growth.

NBFCs and housing finance companies account for 23% of credit to the indian economy. indiscriminate loans chasing high valuations have led to poor asset quality for the sector. RBI data showed that bad loan ratio of NBFCs climbed to 6.6% at the end of March this year. It was 3.6% in March of 2013.

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India’s financial system has both Chinese and American characteristics; it faces a blend of a slow-motion banking crisis at government-run lenders, plus a high-speed liquidity run of the kind.

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Jet Airways Chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent. Goyal’s offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis.

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