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India's shadow banking scare could derail its robust growth story

Updated : September 27, 2018 12:39 PM IST

Hundreds of other people working on the project are out of a job because of non-payments by IL&FS.
The company has defaulted on its debt obligations, roiling Indian markets and sparking worries of a credit crunch in the shadow financing sector.
A fall in economic growth would be a blow to Prime Minister Narendra Modi and the ruling Bharatiya Janata Party, which is already under pressure from protests over rising fuel costs.
India's shadow banking scare could derail its robust growth story

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