India facing a cash crunch as bank credit growth slows down in September

The Reserve Bank of India's latest consumer confidence survey serves as a grim reminder that conditions are softening

India’s tight money conditions and fears of a contagion following a debt crisis at a local lender dented demand and put a muzzle on animal spirits in the world’s fastest-growing major economy.

Economic growth in the July-September quarter may have retreated from the 8 per cent plus expansion in the three months ended June as consumption cooled, a slew of high-frequency data show. The overall activity reading moved a notch lower in September to sit in the middle, for the first time since Bloomberg News started tracking the indicators to measure animal spirits -- a term coined by British economist