India bank employees at their booths offering small loans to consumers.
The current situation index fell to 85.7 in November from 89.4 in September, according to the Reserve Bank of India’s consumer confidence survey, where 100 is the dividing line between pessimism and optimism. The future expectations gauge -- that takes into account the one-year ahead perceptions -- fell to 114.5 from 118.0.
The drop coincides with a deepening slowdown in Asia’s third-largest economy and increased worries about employment. The yearlong crisis in the shadow-banking sector has tightened lending, affecting domestic consumption that makes up about 60% of the nation’s economy. All this contributed to growth cooling to a new six-year low in the quarter ended September.
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