The great Indian credit squeeze, in six charts4 min read . Updated: 30 Oct 2019, 02:54 PM IST
The troubles in the shadow banking sector threaten the health of the banking system, and may prolong a deep financial slump
A year after the collapse of the financial behemoth IL&FS created a crisis of confidence in India’s shadow banking sector, fresh skeletons have once again tumbled out of India’s beleaguered financial sector. Officials at PMC bank admitted in an explosive letter that they had cooked their books to avoid recognizing bad loans to one of their major clients, trouble-ridden real estate developer, HDIL Ltd.
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