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Asked to explain the “real causes” of ballooning bad loans at public sector banks. Other reasons cited by Mr. Rajan were laxity in credit risk appraisal and loan monitoring in banks and lack of appraising skills for projects that need.

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The credit investment arm of private equity company Thomas H. Lee Partners has raised $511 million for its third direct lending fund reportedly. as first-lien or other loans backed by collateral. The company’s most recent direct lending.

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