 "IL&FS. Illustration: Ajay Mohanty")
The IL&FS default has created its own kind of risk-averse environment, with investors trying to offload bonds in a market without ample buyers.
Non-banking finance companies (NBFCs) are also walking the extra mile to assure investors that they are in the pink of health. A few of them are issuing mundane press releases such as successful repayment of bonds due in September, and commitment to pay full amount of their bond liabilities.
Some have also started terming IL&FS as India’s own Lehman moment, a claim State Bank of India Chairman Rajnish Kumar termed as “unwarranted mayhem”.
Experts are also of
