18 years after the 2008 financial meltdown: How a crisis born in US reshaped India

September 19, 2008: A world wrapped in uncertaintyThe global financial crisis erupted from the US housing market, where easy credit, rising home prices and risky mortgages had fuelled a massive boom. As borrowers defaulted and mortgage-linked assets collapsed, losses spread across banks and financial institutions.Lehman Brothers' collapse on September 15 intensified the panic, sending markets tumbling and turning a US housing crisis into a global financial shock.India was hit too. The Sensex crashed, foreign capital fled, overseas financing tightened and economic growth slowed. But the country's banking system largely held its ground.Nearly 18 years later, the question is not just how India survived 2008.