Write-off of Lakshmi Vilas Bank’s debt to sting small lenders

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By Divya Patil India’s smaller banks will likely face higher funding costs and reduced investor appetite for their bonds just as non-performing loans spread, after the central bank moved to write off debt of an ailing lender. The Reserve Bank of India on late Thursday said 3.18 billion rupees ($43 million) of Tier 2 bonds … Read more