Two subprime shocks betray India’s micro-lenders2 min read . Updated: 03 May 2017, 02:41 AM IST
Demonetisation was the first shock to the subprime economy and just when new notes began to fill the gap left by old ones, Uttar Pradesh, came up with a second blow: $5.6 billion of loan forgiveness
Singapore: Mortgages are perhaps the only specialist lending that will survive in India. Every other form of credit, especially subprime, is made so risky by the country’s fickle policies and populist politics that it must eventually lose its independence in the safety of a deposit-taking bank.
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