The debut of electronic trading in India’s corporate bonds seeks to expand volumes now 20 percent of those in South Korea and improve transparency amid global probes into manipulation of interbank markets.
Vijay Mallya, the Indian liquor tycoon seeking cash to revive his Kingfisher Airlines Ltd., is encountering opposition from the country’s stock-market regulator to his plan to sell control of United Spirits Ltd.
Sahara Housingfina Corp., controlled by the owner of New York’s Plaza Hotel, dropped the most in more than two years after India’s market regulator froze the bank accounts of group companies and directors including founder Subroto Roy.
When Rashmi Deshmukh needed money for her hand-knit clothing business in Mumbai, she couldn’t wait for bank approval. Instead, she put up her wedding jewelry as collateral at a loan-for-gold company to get cash on the spot.
Structured note sales in India dropped at more than twice the global pace in the first half after issuers balked at new regulations aimed at limiting risk and investors avoided securities linked to falling stocks.