Shivkumar Mani, the head of marketing for the Dewan Housing Finance Corp., an Indian shadow bank, is seen in this photo. India's shadow banks are experiencing increasing problems.
As growth in India's $2.6 trillion economy cools, the problems afflicting its shadow banking sector are increasingly coming to light. Shadow banks -- also known as non-banking financial companies -- are facing a cash crunch ever since a titan in the sector, Infrastructure Leasing & Financial Services, defaulted on its...
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