Newsroom & Opinion

AsiaHedge: India: Crisis of liquidity or confidence?

November 28, 2018
In the News

In late September of 2018, Indian corporate debt and equity markets were shaken when unlisted Infrastructure Leasing & Financial Services Limited (IL&FS) surprised its lenders by announcing it would miss several debt payments on its $12.5B in loans. This incident led to a downgrade and IL&FS defaulted on multiple issues of commercial paper. While financial markets worried over this situation, Cartica believed this “shadow banking” crisis in India should not be a reason for panic.


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