Confidence in financial sector at stake

IL&FS, DHFL and PMC Bank scandals have left people apprehensive about financial institutions

The crisis of confidence in the Indian financial sector seems to be quite serious. The Infrastructure Leasing and Financial Services, Dewan Housing Finance, and more recently, Punjab and Maharashtra Cooperative (PMC) Bank scandals have left people apprehensive  about financial institutions. Even those who have confidence in the system (like myself), run a mental checklist of where they have kept their money to reassure themselves that it is not exposed to unexpected risk. 

Despite being in the investment advisory business and constantly following and writing about the crisis of confidence in the financial sector, somehow it had not become personal to me