Indian Shadow lenders declined after the nation’s central bank tightened norms for investments by banks and other regulated entities into alternative investment funds to plug lending loopholes.
Piramal Enterprises Ltd. declined as much as 7.1% and IIFL Finance Ltd. slipped 7.7%, the most since December 2022. Edelweiss Financial Services Ltd., Sundaram Finance Ltd., and L&T Finance Holdings Ltd. were also among the losers on Wednesday.
Read More : Indian Shadow Lenders Experience Sharp Decline Following Central Bank’s Tightened Norms