Rise in risk-averseness after IL&FS created panic: HDFC CEO Keki Mistry

The worst of the liquidity crisis is over and confidence is returning slowly, but surely, says Keki Mistry

Keki Mistry, vice-chairman and CEO, Housing Development and Finance Corporation (HDFC), tells Advait Rao Palepu and Shreepad S Aute that the worst of the liquidity crisis is over and confidence is returning slowly, but surely. He believes that for the last few years, new non-banking finance companies (NBFCs) and housing finance companies (HFCs) were caught in a rat race for high growth at the cost of prudent risk and liquidity management, which was at the heart of the crisis. Edited excerpts:

What are your views on the situation in the NBFC and HFC space? 

My view is there was a lot of