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://timesofindia.indiatimes.com/business/india-business/why-indian-companies-dependence-on-foreign-banks-rising/articleshow/67140012.cms
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