Amid deep uncertainties triggered by Covid’s second wave, there has been a noticeable reset in priorities for many Indian companies, a report by SBI NSE 0.14 % showed.
A significant number of major corporate borrowers are seeking to deal with this uncertainty by cutting down on loans in order to reduce their debts, the research found.
This cautious, conservative approach driven by the current instability is also reflected in ..
This particular trend is not limited to any specific sector and is being seen across the whole business landscape. Oil, steel, fertiliser, cement — all of them have seen companies cut borrowing in a major way during the year.
Over a thousand listed companies across the economy’s top 15 sectors saw debts drop by around Rs 1.7 lakh crore in FY 2020-21.
SBI chief Dinesh Khara recently told ToI that Indian companies were turning risk-averse.