Why Indian companies depend on foreign banks

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.

from Times of India https://ift.tt/2EtCB68