.........A full-fledged crisis, one that could have blown away the precariously-perched India economy off course, was averted in 2008/09 when the Reserve Bank of India agreed to a one-time restructuring for real estate and the aviation sectors. Growth in the next few years after the Lehman-crisis was reasonably strong, leading many to believe that India may have escaped the worst of the US-Europe crisis..........Read - ET
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