Mumbai: The Reserve Bank of India (RBI) would inject Rs 12,000 crore into the market by purchasing government securities on November 15, 2018. The decision comes amid concerns of a liquidity crisis in the economy after the financial services company IL&FS reported defaults in September. “Based on an assessment of[Read More…]
Tag: IL&FS
IL&FS new board submits progress report to NCLT
Mumbai: The new board of IL&FS Group on Wednesday submitted the progress report to the National Company Law Tribunal, Mumbai (NCLT). According to the company, a “Report on Progress and Way Forward” has been submitted with the Ministry of Corporate Affairs, which filed the same with the NCLT. “The report[Read More…]
The cause and ripple effect of the IL&FS fiasco on the market
Some organisations carry systemic importance for the entire financial industry. Infrastructure Leasing & Financial Services (IL&FS) is one such, the Indian equivalent of Lehman Brothers — and the world is well aware of the repercussions that ensued when the now infamous investment bank was allowed to collapse. The current financial[Read More…]