Indian Shadow Banking bust Is IL&FS, Lehman Brothers of India? What actually led to the fall of IL&FS and how it can affect the economy Depreciating rupee, plunging stock market, government bailouts and IL&FS debt crises, these past few days have been really hard for the Indian govt. It wouldn’t be wrong to say that economy is in a dangerous condition. The only plausible argument government has put by now to justify the plummeted rupee is rising oil prices. Country’s current account has taken a hit with oil prices touching $85, highest since November 2014. While this might be one of the reasons, it certainly is not the only one. In my previous article I wrote about major reasons for the fall in rupee and how government can tackle it. In this article I am going to talk about severity of the recent IL&FS crises that led to one of the biggest bailouts of financial industries. Recent strings of defaults and huge amount of NPAs have shaken the financial in
This blog is all about making seemingly difficult concepts in finance easy. Finance has always been seen as this trivial overwhelming thing . This is me trying to relate major world happenings to finance and establish that it's not as scary as it seems