As it happened in 2008-09, a sharp downward move in the equity markets brought out all kinds of problems that were hidden otherwise. A few days ago, I heard from an acquaintance who lives in the UAE, how a well-known international bank wiped out all his savings. Although the UAE is a different jurisdiction, the saver is an Indian citizen, the underlying product is an Indian mutual fund and the bank operates in India too. Therefore, the story might be of interest to at least those readers who hav ..
