India: Corporate Liquidity Tightness Shows No Signs of Abating

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Asia focused research insights & advisory, Asia Advisors

Vinay Patel

Asia focused research insights & advisory

Asia Advisors

Asia Advisors is an independent financial advisory and research firm working closely with corporates and institutions to provide consulting solutions & research insights. We provide advisory services including capital solutions, business strategy and investment insights.
Firm is headed by Vinay Patel who has close to two decades of experience in research and business development at large, international investment banks such as HSBC and ICICI Securities. Led research efforts in areas of Macroeconomics, Asset Allocation & Investment Strategy for close to a decade in global & domestic research teams. As a business head in Singapore, advised top global investment management firms & Portfolio managers in Asia for India related investments.
Vinay was recently joined by Swapnil Manish, an investment banker and ex-ecommerce entrepreneur with more than 12 years of experience. Swapnil was the TMT banker at BNP Paribas and was part of several large M&A and ECM transactions (Bharti-Zain, Bharti Infratel IPO, Schneider-Zicom among several others). He's also had a stint as an ecommerce entrepreneur having launched & led Mumbai's first online grocery player.

Thematic (Sector/Industry)

India Financials / Thematic (Sector/Industry)

Severe liquidity crunch affects NBFC lending with several NBFCs, including the housing finance companies reporting a slowdown in lending. NBFCs had become an important part of the credit market extending credit to pockets not explored by banks like the SMEs, MSME and self-employed. With a 44% share of the credit market (up from 21% in 2014), NBFCs are an important component of the financial system today and a slowdown in NBFCS will impact sectors like housing, autos and other discretionary consumption products. While the NBFCs are looking to some help from the RBI (direct liquidity support) as it did provide in 2013 but given the rapid growth of NBFC credit (25%+ in FY18), the RBI may just be welcoming this moderation

Severe liquidity crunch affects NBFC lending with several NBFCs, including the housing finance companies reporting a slowdown in lending. NBFCs had become an important part of the credit market extending credit to pockets not explored by banks like the SMEs, MSME and self-employed. With a 44% share of the credit market (up from 21% in 2014), NBFCs are an important component of the financial system today and a slowdown in NBFCS will impact sectors like housing, autos and other discretionary consumption products. While the NBFCs are looking to some help from the RBI (direct liquidity support) as it did provide in 2013 but given the rapid growth of NBFC credit (25%+ in FY18), the RBI may just be welcoming this moderation 

Mahindra & Mahindra Fin Services Ltd. (MMFS IN)

Gold Rush for NBFCs May End as Worst Liquidity Crisis in a Decade Bites; Banks Review Exposure Norms