The Indian government is considering giving more powers to the central bank to regulate the struggling shadow banking sector, Finance Minister Nirmala Sitharaman informed the Parliament on Monday, the International New York Times reported on a Reuters story. The government does not have any plans to infuse funds in privately-held shadow banks, she said in a written reply. "Government has received a proposal from RBI to strengthen RBI's regulatory and supervisory powers under the Reserve Bank of India Act, 1934, and the same is under consideration," Sitharaman said.

China’s banking regulator plans to tighten rules on so-called cash-management products, according to people familiar with the matter, impacting an estimated $2 trillion worth of the investments, Bloomberg News reported. The China Banking and Insurance Regulatory Commission aims to treat CMPs similar to money-market funds by imposing stricter rules on pricing and restricting where and for how long the inflows can be invested, the people said, asking not to be identified as the deliberations are private.

After a year of fending off an International Monetary Fund bailout, Pakistan’s Prime Minister Imran Khan wants to win one this week with a plan to jolt his economy into shape—potentially at the expense of the agenda that helped him get elected, The Wall Street Journal reported. The IMF board is due to meet Wednesday in Washington to consider whether Pakistan is undertaking enough tough action to get a loan of $6 billion over three years. Mr.

One of India’s top microlenders is seeking about 60 billion rupees ($900 million) from banks and non-bank lenders to fund loan growth as demand from borrowers living in small towns and rural areas bucks the slump in the nation’s overall credit offtake, Bloomberg News reported. Satin Creditcare Network Ltd., whose assets exceed 70 billion rupees, needs the cash to meet its credit-growth target of about 40% for the year ending March, Chairman H. P. Singh said by phone.

Turkey’s banking association said on Friday that the restructuring of the mounting debts of the country’s top football clubs was moving forward, adding that the debts would be matured for five years, with two years without paying the principal on the loans, Reuters reported. In January, the Turkish banking Association (TBB) said Turkey’s top football clubs, such as Fenerbahce and Galatasaray, will have their debts restructured but not written off, in a move to ease their spiralling debts.

Indian shadow banks’ woes are worsening by the day with investors now demanding the highest premium in six years to hold their short-term debt. Spreads on top-rated one-year bonds of Indian non-bank lenders over government bonds of the same maturity have risen 63 basis points since India’s mini-Lehman moment when the systemically important Infrastructure Leasing & Financial Services Ltd. was cut to default in September, Bloomberg News reported. This is the widest level since 2013, according to data compiled by Bloomberg. Trouble has only spread across the sector in recent months.

A travel planner in India backed by the world’s second-largest asset manager Vanguard Group has defaulted on debt and its shares fell to a record low, as cracks in the nation’s credit market spread, Bloomberg News reported. Cox and Kings Ltd. has paid only 500 million rupees ($73 million) of the two billion rupees due June 26 on unsecured commercial papers, according to an exchange filing late Thursday evening. Shares of the company dropped by their daily limit of 10% on Friday, the lowest since its trading debut in 2009.

Datang Group, one of China’s biggest power generators, said a subsidiary in northwestern Gansu province that operates a coal-fired power station has applied for bankruptcy and liquidation after it defaulted on about 16.44 million yuan ($2.39 million) of debt, Reuters reported. China’s coal-fired power producers are struggling as Beijing promotes the use of renewable energy and opens up the state-controlled power market. Another Datang Group coal-fired plant went bankrupt last December.

Lenders to Suzlon Energy Ltd. find themselves back where they started about six years ago, Bloomberg Quint reported. The renewable energy firm, which had restructured debt under the Corporate Debt Restructuring programme in 2013, is once again in financial trouble. This time, though, lenders are not keen to restructure the company’s debt and see equity infusion from an outside investor as the only feasible option. The company owes banks about Rs 10,000 crore.

India clarified on Thursday that plans to sell debt-laden state-run carrier Air India were still on track, hours after a junior minister told parliament the privatisation was on hold because of high oil prices and volatile exchange rates, the International New York Times reported on a Reuters story. India failed last year in its attempt to sell a 76% stake in loss-making Air India due to a lack of interest from bidders, but said it would return with an alternative proposal soon.