Trouble ahead? Top bank borrows Rs1,000 cr @ 20%

Desperate short-term borrowing signals need for regulators to help Indian banks as liquidity issues persist; many banks have almost stopped lending
A large Indian commercial bank borrowed Rs1,000 crore from another major domestic bank at more than 20% interest rate earlier this week, a desperate move that underscores the gravity of the liquidity scarcity for some Indian banks, notwithstanding assurances to the contrary by regulators and politicians alike ....