India's Salary Deep-Freeze Puts Banks in a Pickle

If your salary feels more frozen than your grandmother's samosas, you're not alone. India's wage stagnation saga is now giving bank executives serious heartburn as consumer loan growth hits the snooze button.

Wallets on Lockdown

The writing is on the wall - or rather, in everyone's increasingly lighter wallets. With wages doing their best statue impression, Indian consumers are thinking twice before swiping those credit cards for lifestyle upgrades. The traditional formula of rising wages leading to increased borrowing for shiny new cars and fancy degrees is currently experiencing a techn...