India witnessing a Lehman-like crisis, says Elara Capital's Raj Bhatt

Raj Bhatt, vice-chairman and chief excutive officer (CEO) of Elara Capital, says that India is in a similar situation as the US after the 2008 Lehman Brothers crisis. In an interview with Sundar Sethuraman, Bhat says that the government should take steps to address the risk aversion among banks and financial institutions. Edited excerpts:

Why are the markets weak despite a stable government at the Centre?

Globally, the US-China trade war is a sentiment dampener.  Europe is going through a challenging time, and the interest rate in the US is indicating that it is going into recession. Domestically, we have a liquidity