How India Avoided Its Lehman Brothers Moment

first_imgMany are calling it India’s “too big to fail” moment, referring to big financial firms so large that their collapse could spark economic chaos.On Monday, India took over the beleaguered IL&FS, an acronym for Infrastructure Leasing and Financial Services – a major non-banking financial institution, or a shadow bank. The firm’s six directors have been dismissed and the new board is now led by a top banker, Uday Kotak.Read it at BBC Related Itemslast_img