The third lesson was that we need to rethink risk. First half of 2020 saw a private sector bank freeze deposits for a few days. During those days it was not that clear what the final outcome would be. It saw a huge market crash. It saw a fund house shut down six debt funds, freezing investor money for the near future. It saw salaries go down. It saw jobs at risk. It saw firings. Nothing felt safe. And in this panic came the lesson that there is no financial product without risk.
