LIC scam may lead to a 10-15 percent bearish in the market

CBI investigations in to the multi cr loan fraud, that has make the dock senior manager’s of LIC Housing Finance as well as various public sector banks, is sending tremors throughout the real-estate sector. As more skeletons arise from closet, analysts fearing which the scandal may lead to a 10-15 percent bearish in the market.

The largest part of concern is that these official’s were accused of providing loans to firms in return for financial benefits from a city based fiscal services firm, Money Matters, considered related to prime real-estate companies.

Analysts worry which the scam may lead to a cash-flow issue, leading to slows in execution of project’s. Banks will become careful in financing, as well as raise interest rates.

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