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Rpt-focus-saving The Titanic: India Took Control Of Il&fs To Avert Catastrophic Damage - Gov't | Reuters

by reuters.com posted 2weeks ago 108 views
* India took rare step of saving IL&FS as it feared contagion. : NEW DELHI, Oct 5 (Reuters) - The Indian government said it was forced to take control of ailing shadow banking firm Infrastructure Leasing & Financial Services (IL&FS) as it feared its collapse would cause “catastrophic” damage to the financial markets and the economy, a court filing shows.

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