Legendary investor Warren Buffet once said that you never know who is swimming naked until the tide goes out. As GDP growth in India declined in the last two years, banks suddenly found themselves saddled with more non-performing loans (NPLs) than they had bargained for. The Reserve Bank of India’s (RBI) report on Trends and Progress of Banking in India 2012 puts NPLs in the banking system at a rather high Rs 1.43 lakh crore (or Rs 1.4 trillion) at the end of 31 March 2012, the balance sheet date taken into consideration for banks............
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