Govt not planning to help banks rescue shadow lender DHFL: Report

India’s government has no plans to participate in the rescue of Dewan Housing Finance Corporation Ltd (DHFL), according to two sources involved in talks on how to restructure the shadow bank’s near 1-trillion-rupee ($14 billion) debt.

A consortium - led by Union Bank (UNBK.NS) and State Bank of India (SBI.NS) - was set up to restructure DHFL’s (DWNH.NS) debt a month after it first defaulted in June.

But having struggled to come up with a rescue plan, the banks last week turned to the government for help, the two sources directly involved in the talks told Reuters. But as DHFL is a