When the liquidity crunch began, some of the large NBFCs found themselves squeezed by rising defaults as well as ballooning collection costs, forcing them to scale down operations.Fullerton India Credit Co Ltd, an indirect subsidiary of Singapore-based Temasek Holdings, was among the last financiers still willing to bet on India\'s sub-prime or unsecured borrowers. According to sources, it is now set to join the ranks of Citi Financial, GE Money, ICICI Bank and others who have bailed out of this market because of losses suffered due to the difficulty in loan recovery.
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