US's forth largest investment bank Lehman Brothers Holdings Inc. (LBHI) bankruptcy and Merrill Lynch's acquisition by Bank of America are making strong impact on India.
According to reports, nearly 2,500 people working with Lehman Brothers India are likely to lose their jobs. Merrill Lynch also employs 600 people in India and their fate is not known.
Following the subprime crisis in the United States of America, Foreign Institutional Investors have already pulled out over $8 billion from Indian markets..
On Tuesday morning BSE sensex crashed again. Trade analyst see more fall such this in future.
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