India builders face roadblock as banks tighten lending tap
Add BT as a preferred sourceMumbai
INDIAN builders struggling to sell homes amid mounting debt face a new hurdle: reluctant bankers.
"There's a lot of demand from builders and commercial real estate developers for loans," Ranjan Dhawan, Bank of Baroda's Mumbai-based chief executive officer, said in a May 11 interview. "There's a limit to how many builders we can finance. The current economic scenario has made us very cautious."
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