Top shadow lender Shriram City turns cautious, cuts loans to its most prized customers by 99%

Shadow lenders in India supply last-mile credit to businesses such as mom-and-pop stores, small restaurants, and individuals who need to purchase a new refrigerator or car. The bulk of Shriram City’s customers seek loans of less than Rs 15 lakh each, and are probably among the most vulnerable in an economy forecast to shrink for the first time in decades.

source https://economictimes.indiatimes.com/industry/banking/finance/banking/top-shadow-lender-shriram-city-turns-cautious-cuts-loans-to-its-most-prized-customers-by-99/articleshow/77538516.cms