Updated:
Dec 31, 2020 02:13:29 PM IST
'How We Survived' is a series of stories on businesses—big and small—that innovated or pivoted during the coronavirus crisis to survive. For all the stories in this series, click here
October 24, 2008. ‘Black Friday’ is indelibly etched in the memory of Murugavel Janakiraman. In one of the biggest falls in the history of the stock market, the Sensex tanked by a staggering 11 percent. The financial crisis—triggered in the US by the bankruptcy filing of fourth largest investment bank Lehman Brothers on September 15—quickly snowballed into a debilitating pandemic hitting every country across the globe. A few months into the doldrums, while the US economy slipped into recession, developing countries were coming to terms with a painful slowdown.