கார்த்திக் நீலகிரி
Economy is going to catch big time... Talk of Ease of doing business..?
//Srei Infrastructure Finance Ltd. plans to stop financing Indian infrastructure projects after three decades in the business, as a slowing economy and crisis in the shadow bank sector dries up funding lines.//
//Srei’s decision, at a time when Prime Minister Narendra Modi is banking on private companies to contribute a quarter of a planned $1.5 trillion investment pipeline, highlights the pain non-bank financiers are facing 17 months after the collapse of the IL&FS Group. Construction of roads, ports and power plants is seen as key to revive an economy growing at the slowest pace in a decade since the failure of the shadow lender.//
//“Post the IL&FS crisis, access to funds is limited and access to capital is virtually not there,” Kanoria said. “There are arbitration cases going on for several years. When government does not pay, they expect you to pay on time. And if you don’t pay then you are branded as a non-performing asset and a crook.”//
//“We had an economic challenge, now we also have a social challenge for the last three months. Is there any investor who will come?” Srei Vice-Chairman Sunil Kanoria said. “We don’t want to be in infra. That’s a very clear message.”//
Shadow lender Srei quits infrastructure, blaming ‘socialist’ India
