Until India maps the network of these Chinese lending apps and traces their offshore location, new apps with the promise of millions will continue to lure Indians.
Overall CPI inflation has been below 6% for last two months & growth is expected to slow in second half of FY23. But high core inflation could still result in marginal rate hike.
If the political establishment responds to a situation like this as if it’s something that must only play out between a corporate & the market, it's coming of age of Indian capitalism.