Private equity funds are picking through the rubble of India’s crisis-stricken shadow banking sector, even as other investors balk. The funds have invested about $2 billion this year in the country’s non-bank financing sector, which is worth some $40 billion. While that’s not enough to staunch the 16-month long cash crunch following the collapse of IL&FS Group, it is 50% higher than the average over the last four years and comes after a strong 2018.

(Live Mint)