Unlike the affected countries in 1997, India does have healthy foreign exchange reserves, recently amounting to $568 billion.
SynopsisUS fund Oaktree lent Rs 2,200 crore to Indiabulls Housing Finance, and is in talks with another US fund Värde Partners to inject $2-2.5 billion into Vodafone Idea. Oaktree is also bidding for the bankrupt DHFL (Dewan Housing Finance Corporation Ltd).
The Reserve Bank of India’s (RBI) recent ‘softening’ of stance to the idea of Indian corporates potentially running our banks has divided market participants. But considering the banking regulator’s historic conservatism — only reinforced by the incessant shoot-from-the-hip cries of outrage by former officials — the jury is still out on whether the system intends to translate this perceived change of heart into something real. Opening India IncBYNikhil AroraET CONTRIBUTORS