ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Is Bank Debt Special?

Despite reform programmes in the capital market in the last decade, for most firms banks and internal sources remain the most important financing sources. The uniqueness of bank debt is evident in its many flexible loan schemes and credit sanctions as well as in options that exist which facilitate tailor-made structuring of debt. This paper attempts to understand specifically the role of banks as a source of debt capital for different groups of firms in India. Even as firms continue their dependence on banks for funding, this paper examines the determinants of various forms of bank finance - short-term, long-term and overall bank debt.

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