1. Please refer to our previous article:
IL&FS Crisis – Impact and Future Action for our Portfolios, Sep 26, 2018 where we had analyzed the present crisis and written that market can remain jittery for a few weeks and can go down even further.

2. Market is down significantly for the last few days with Sensex trading close to 35000. Indian Rupee has also depreciated further and is now close to 74 INR /USD. India will surmount the present confluence of multiple negative factors, both global and local. IL&FS is signifying a continuing cleaning up of the system which started with recognizing NPAs in the banking system. Eventually it will set up a very good foundation for sustained economic growth and a consequent stock rebound. Its economic growth last quarter was an impressive 8.2% on an annualized basis and corporate earnings are also gaining momentum.

3. We have only long term money invested in stocks. Our totally goal based approach ensures that equity is utilized only for long term goals. There is not a single investor whose short term money is invested in equities. With this resilience and holding power, we are sure to ride out this storm and exit only at very good levels.