Cash-starved DHFL likely to get fresh line of credit from lenders

The consortium of lenders led by Union Bank of India discussed various modalities to ensure that their exposure to DHFL doesn't run into further stress

Efforts are underway to resume and revive the lending operations of troubled housing financier Dewan Housing Finance Corporation (DHFL). In the first round of the lenders’ meeting on Monday as part of restructuring their exposure to DHFL, bankers were willing to consider the proposal of extending a fresh line of credit, sources in the know said.  

The consortium of lenders led by Union Bank of India discussed various modalities to ensure that their exposure to DHFL did not run into further stress. “Since the issue is that of liquidity and not business failure, banks are interested in considering fresh credit