Credit rating agency, ICRA said that PLI has seen some stability in last few months. Many industry trackers expected this instrument to face problems as the borrowers are typically companies or institutions that are unable to raise funds from banks or other lenders or are unable to raise funds at an interest rate they are comfortable with.source https://economictimes.indiatimes.com/industry/banking/finance/pooled-loan-issuance-structures-can-help-diversify-borrowings-for-lower-rated-entities-icra/articleshow/80027231.cms
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