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As India's Economy Cools, the Spotlight Hits Its Shadow Banks

Jun 13, 2019 | 09:45 GMT
Shivkumar Mani, the head of marketing for the Dewan Housing Finance Corp., an Indian shadow bank, is seen in this photo.

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.

(SHRIYA PATIL/The India Today Group/Getty Images)

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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