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India's non-banking housing finance lenders facing liquidity stress: official

Reuters  |  NEW DELHI 

(Reuters) - India's non-banking housing companies are facing liquidity stress, said on Monday.

Srinivas said the companies need to review their funding model so that they can aim for sustainable growth.

A string of defaults at an NBFC, Infrastructure Leasing and (IL&FS), have triggered sharp falls in Indian stock and debt markets amid fears of contagion within the rest of the country's financial sector.

Shares in housing lenders Housing Finance, and were trading down between 3 percent and 8 percent on Monday.

(Reporting by and Aditi Shah; Editing by Malini Menon)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 12:16 IST