However, for the borrowers it means finding other options for

After inflicting embarrassing losses on mom and pop investors, India’s mutual funds are cutting back their exposure to debt securities of shadow financiers. However, for the borrowers it means finding other options for as much as $19 billion in funding that must be repaid in the current quarter. The cost of their desperation nowadays is often a “side letter” a payment they make on top of the agreed debt coupon.

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