Neither Billionaires Nor Poor Can Escape India Shadow Lender Woe
- Fund costs for non-bank finance firms jump to multi-year high
- Markets still rattled by IL&FS, Dewan and Essel Group concerns
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When India’s shadow lenders sneeze, many others catch a cold.
Debt concerns have pushed funding costs for non-bank financing companies to multi-year highs in recent weeks. That’s bad news for borrowers in the world’s fastest-growing major economy -- from poor entrepreneurs getting micro loans for food delivery businesses to property tycoons looking to roll over debt that fueled a construction boom. Read more on that here.