The real estate industry in India has been rocked by a bribe scandal and now has cause stocks or real estate companies to fell sharply.
SteelGuru reports that the police has arrested a total of 8 people on alleged bribes paid to state bankers to secure loans for major real estate companies, including builders. Analyst said that a cash crunch could be major problem in future as banks and other lenders will tighten their rules when lending to the sector.
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