@CoolBird i completely agree with the above sentiment.
In my case, i recently started learning about bonds.
I have invested a small amount in this bond as a learning exercise.
Even if i lose this due to my miscalculations, spending a thousand bucks to learn seemed a reasonable “fee”. 
At the time i was exploring the NSE bond market, this was the only bond that fulfilled a bunch of criteria.
- The bond was trading at a discount.
- The bond had reasonable liquidity that i could purchase it immediately.
- The bond was maturing soon enough that i wouldn’t have to wait long for my “learning experiment” to conclude.
- There were no outright issues with the issuer (no known frauds/scams/defaults).
Hence i chose this bond series for my learning experiment.
(Not a recommendation/endorsement. Sorry, if my initial post came across as such.)
Following-up on @neha1101’s insight earlier in this topic-thread, about how NBFCs repeatedly raise money from the market to pay-off previous debts, i also came across this article on how NBFCs are currently bearing the majority of the risk of long-term loans to the real-estate development bubble.
Time will only tell if/when exactly this real-estate bubble will burst and NBFCs backing them will default.
Based on my layman/armchair analysis, DHANILOANS appears to be relatively less exposed to real-estate risks. If i understood their latest prospectus right, it appears to have < 10% of its loans backed by residential/commercial real-estate (specifically pages 50, 122, 323, and 398 of the PDF).
Indeed! 
Any comments on potential risks in this scenario (or with NBFCs, or even on Bonds in general) are welcome…