India’s public-sector banks are sitting on something unpleasant
....The Reserve Bank of India (RBI) is on the warpath. K.C. Chakrabarty, a Deputy Governor, says: “It’s a concern. The banking system will not collapse because of this tomorrow. The system hasn’t become unstable. But if this continues for one or two years, it will become unstable.” The RBI plans to tighten the rules on restructured loans again, having loosened them in 2008 to protect India from the global crunch and given special treatment to infrastructure loans, deemed a national priority, in 2010.......
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