Was India's NBFC crisis a myth or a reality?

Many termed the immediate aftermath of IL&FS as India's Lehman moment. No doubt India's NBFCs had in 2019 their worst year in a decade amid a severe and protracted struggle for funds. But when there were just two failures which the industry took in its stride without needing any bailout, what does it indicate? Was it really a Lehman-like moment?

from Banking/Finance-Industry-Economic Times https://ift.tt/379te6r