India is currently in the midst of a mini banking crisis of sorts. The reason for this is the unwinding of large, unsecured loans made by its public-owned banks to large businesses, most prominent among which include a jewellery brand, a pen maker and a PC maker. The size of the now-soured loans to these companies? $1.7 billion, $570 million and $80 million, respectively.
India’s startup ecosystem has been fuming.
I don't understand why my banker gets panic attacks everytime forex needs to come in or go out.