Krishna Merchant is Asia credit correspondent at IFR. She covers credit, mainly corporate bonds in India, Indonesia and the Philippines, and also the offshore rupee market, or Masala, bonds for India. She has been with IFR since May 2016.
Indonesian companies are lining up rupiah bonds before borrowing costs rise further, following two rate increases by Bank Indonesia, while dollar bond issuance has slowed.
Former Reserve Bank of India governor Raghuram Rajan said India needed to strengthen its macroeconomic position to withstand emerging-market volatility.
India’s state-owned non-banking finance companies are facing higher capital requirements under new rules bringing them in line with their privately owned peers.