what is sub-prime crisis? mention indian companies which
are affected by this?
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Answer Posted / somnath pal
This is a financial crisis the effected many US and European
Banks to the extent of winding up. This crisis has its root
in the loans provided indiscriminately to the less credit
worthy customer of the banks on the pledge of the houses
they owned. In US the price of the houses tends to decline
due to the use of woods and wooden work. Hence when the
borrowers were unable to pay the loan, the bank could not
recover the loan from the sales proceeds of those houses.
Thus creating a large pool of Bad Debt that drove many banks
to bankruptcy.
The indian companies effected are
INFOSYS
DLF
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