MUMBAI -- The credit crunch in India's shadow banking sector, or nonbank lenders, has begun to squeeze the economy, with a crucial auto sector shedding jobs as reduced consumer access to loans dents sales.
Economy
India's shadow bank woes rattle broader economy
Auto industry skids as cash-strapped lenders pull back from car financing
New-auto sales in India fell 17% for the April-June quarter. Industry officials say the decline stems in large part from nonbank lenders' struggles. (Photo by Takaki Kashiwabara)
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