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King of Indian bond sales warns of the biggest crisis since Lehman

“I’m a conservative risk taker,” Rathi said. “I will not take undue risk, and tend to change my strategies as the need of the hour is.” By Divya Patil and Subhadip Sircar Shashikant Rathi, who has dominated India’s local bond underwriting business for over a decade at Axis Bank NSE 0.71 % , says the industry now faces its biggest challenge since the global financial crisis. Shock defaults since last year by shadow bank IL&FS group and a new electronic bidding platform have disrupted the $108 billion market where underwriters like Rathi help companies raise money by selling debt […]

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