Trouble in India's nonbank-lending industry has cut down on consumer and business credit: “This has a potential to disrupt the economy”
The lenders have grown rapidly in the past decade, handing out car loans, construction loans and much else.
But the failure of one lender last fall, and a default by another on some of its payments last month, has spun out into the economy. Car sales in May, for example, fell 19%, and economists say lending constraints account...
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Putin to meet pope in shadow of Ukraine crisisRussian President Vladimir Putin will hold talks with Pope Francis on Thursday, ...
Read more »
WNBA player Sue Bird says Trump’s attacks on girlfriend Megan Rapinoe ‘cannot shake’ the soccer starSue Bird writes an op-ed in defense of her superstar girlfriend, Megan Rapinoe.
Read more »
These Boozy Pudding Shots Come in Insane Flavors, Like Spiked Cake ShakeThese boozy pudding shots come in insane flavors, like spiked cake shake
Read more »
Sri Lanka police chief arrested over failure to prevent bombingsSri Lankan police arrested the country's police chief, currently on compulsory leave, and the former defence secretary over alleged negligence that led to the Easter attacks.
Read more »