MUMBAI: The Indian government has announced a fresh capital infusion of about US$10bil into debt-burdened state banks and credit guarantees to support shadow lenders in a bid to boost lending and revive the economy.
India’s economy has sagged in the past year partly because many small and medium-sized businesses and consumers have found it tough to borrow from the banks, or from the shadow lenders, officially known as non-banking financial companies.
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