IL&FS failure: Start of NBFC fall in 2018
Understanding IL&FS Infrastructure Leasing & Financial Services (IL&FS) was established in 1997 by three financial institutions, namely Central Bank of India, Housing Development Finance Corporation (HDFC), and Unit Trust of India (UTI), with the objective of granting loans for significant infrastructure projects. As IL&FS is set up as a non deposit taking NBFC. Therefore, it …