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Letter to BS: Govt takes control of crisis-hit IL&FS to stem contagion

I hope this timely decision will control the mess, writes Qeyamuddin in Letters to Business Standard

Business Standard 

Apropos “Govt takes control of IL&FS” (October 2); this is an important and crucial step by the government against Infrastructure Leasing & Financial Services Ltd (IL&FS), whose recent defaults have roiled the markets. I appreciate the government’s move because this was essential to restore confidence in the with the hope that financial institutions would provide the non-banking financial company liquidity. I hope this timely decision will control the mess.

Qeyamuddin Mumbai

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First Published: Tue, October 02 2018. 21:26 IST