A Manager Who Saw India Credit Crisis Now Warns of Realty Stress
- ICICI Prudential sees risk of more non-bank firm strains
- India shadow banks had lent heavily to property industry
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The next flash point in India’s credit markets could be real-estate debt.
That’s the view of ICICI Prudential Life Insurance Co., a major corporate bond buyer and one of India’s top life insurers. The firm avoided investing in debt of stressed companies before credit market strains spread last year.