Multiple lenders are chasing the same borrowers amid stagnant incomes at the bottom of the pyramid
Subprime loans in India are teetering on the edge of a fresh crisis, with surveys showing signs of distress among 68% of borrowers. Those who have provided the capital for a multiyear 2,100% expansion will have to stomach losses. The $45bn industry will probably muddle through its latest difficulties, though analysts want the central bank to come up with more robust supervision.