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10 yrs of Lehman crisis: Lessons India didn't learn from the 2008 meltdown

The fourth part of the series on the 10th anniversary of the fall of Lehman Brothers looks at India's missed opportunity to set its footprints abroad

reserve bank of india, rbi
The global meltdown saved the RBI

It seems absurd a decade later to believe this but in 2009 an Indian financial company had bid for an American insurance firm. AIG Investments, the fund management arm of insurer American International Group (AIG), was up for sale as the parent company was desperately scouring avenues to remain alive. The 2008 global meltdown had brought AIG perilously close to nationalisation. News reports at the time said that Religare Enterprises, jointly with Macquarie Wealth Management, were the possible top bidders for AIG Investments which managed assets of about $100 billion across 45 ...