Mutual funds continue to shun Indian shadow lenders’ debt despite a liquidity boost from the nation’s central bank and measures from the government to quell investor wariness toward them, Bloomberg News reported. Debt mutual funds spooked by a string of defaults and credit rating downgrades of the non-bank lenders slashed investments in notes from shadow banks to 14% of their total assets in July, the lowest in nearly two years, data from markets regulator show. The funds invested 7.1% of their assets in commercial papers from shadow lenders and 6.9% in bonds last month, the data showed.

The world’s worst performing major bank in stock markets this year is also sliding in the bond market after a credit rating downgrade, Bloomberg News reported. Yes Bank Ltd., one of India’s largest private-sector banks, has been rocked by asset quality worries due to heavy exposure to weaker borrowers amid mounting credit market strains. Moody’s Investors Service cut its rating on Yes Bank deeper into junk on Wednesday, citing concerns about its capital buffers and ability to raise funds.

Credit analysts are keeping a watchful eye on signs of stress in Indian household debt after unemployment rose to a 45-year high and as lenders grapple with the worst soured debt levels of any major economy, Bloomberg News reported. India’s bad debt malaise has centered on corporate debt, and loans to individuals have been seen as safer and a growth opportunity for banks. Given the slowdown in the economy and a drying-up of credit from shadow banks, analysts are signaling potential risks, though publicly available data on personal loan arrears is sparse.

Turkey may have the wrong cure for what really ails its economy. President Recep Tayyip Erdogan’s government has rolled out measures to break credit bottlenecks still holding back growth after recession, in the hope of generating the kind of spark that produced double-digit economic leaps only a few years ago. But this time is proving to be different, Bloomberg News reported. Lending remains subdued as banks fearing for their asset quality tread carefully after last year’s currency shock.

Turkish billionaire Ferit Sahenk is ready to sell more of his assets as part of an ongoing effort to satisfy a debt-restructuring deal struck with banks earlier this year, Bloomberg News reported. Sahenk’s Dogus Holding AS could dispose of investments worth as much as 800 million euros ($890 million), he said in an interview in Istanbul late on Monday.

China’s young leasing market offers plenty of opportunity for domestic and foreign lessors but also plenty of risk, reflected in the growing number of lawsuits over missed payments from cash-strapped local governments, the Financial Times reported.

The NCLT has initiated insolvency proceedings against NCR-based real estate firm Raheja Developers after admitting a plea filed by one of its flat buyers. A two-member Principal bench, headed by President Justice M M Kumar, has appointed an interim resolution professional (IRP) to take over the management of the company, The Economic Times reported.

Singapore firms are likely to see more soured debt as the trade-reliant economy takes a hit from U.S.-China tensions. That’s the view of debt restructuring experts, for whom more bad debt could mean increased business, Bloomberg News reported. Singapore’s government cut its forecast for economic growth this year to almost zero, and weak export data have stoked fears of a recession. The nation has already been rocked by the high-profile collapse of water treatment firm Hyflux Ltd.

The National Company Law Appellate Tribunal (NCLAT) on Friday ordered liquidation of debt-ridden Amtek Auto as it declined lenders' request for extension of the insolvency resolution process deadline, Business Today reported. Amtek Auto was among the first list of the 12 companies that were referred by the Reserve Bank of India (RBI) in 2017 to respective banks for the initiation of insolvency process for defaults. UK-based Liberty House was selected as the highest bidder by the committee of creditors (CoC) of Amtek Auto.

Bank of England Gov. Mark Carney said global growth prospects are flagging due to a trade war pursued by Washington, creating new challenges for economic policy makers, The Wall Street Journal reported. “The pickup that we’ve been expecting in global growth has not transpired,” Mr. Carney said in an interview Friday on the sidelines of the Federal Reserve Bank of Kansas City’s annual symposium in the Grand Teton National Park. “When we trace it, it’s not because of Fed policy. It’s not because of global financial conditions.