Borrowers that are facing challenges in the credit market are finding solace in dollar-denominated loans, even as non-performing debt at local banks, volatile rupee and 2019 national elections add to pressure on financing costs. The downfall of IL&FS group has fueled concerns about default risks, making banks pushing up the cost some firms pay for loans at home.
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Why Indian companies depend on foreign banks
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Reviewed by Balveer Singh
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December 18, 2018
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