India surely needs a mega bailout, and here’s how it may look like

Cut off their remittances via parasite H-1B visas into the west, and their economy sinks like a rock. India is going nowhere fast.

//economictimes.indiatimes.com/articleshow/69685931.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

“Another shadow bank in India has missed a bond payment. That’s a reminder to the new government that a mega-bailout of the country’s distressed financial industry is now unavoidable.

Ever since the collapse of infrastructure financier-operator IL&FS Group in September, an event I termed India’s mini-Lehman moment, the funding woes of the country’s nonbank lenders – those that operate without state-guaranteed deposits or access to central-bank liquidity – have kept worsening”.


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