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PMC Bank customers rush to withdraw money from a branch in Mumbai in September. In a decade of alleged deception, the bank's exposure to a single housing developer reached 70% of total assets.   © Reuters
Industry in focus

Indian financial sector stuck in real estate quicksand

Over 500,000 stalled housing units deepen economic mess for Modi

KEN KOYANAGI, Nikkei Asian Review editor-at-large | India

MUMBAI -- Adel Divine Court was supposed to be a manifestation of the Indian Dream -- a posh, gated high-rise complex of about 1,000 apartments in the New Delhi suburb of Faridabad.

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