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In 2018 India, there was IL&FS default. 1) Why could shadow banking become main finance in India ? 2) What caused IL&FS default? 3) How

In 2018 India, there was IL&FS default. 1) Why could shadow banking become main finance in India ?

2) What caused IL&FS default?

3) How did IL&FS's default affect overall India economy?

Please explain simply.

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