Have Indian banks gone to the dogs?

.........RBI deputy governor K.C. Chakrabarty admits Indian banks are under stress, particularly the public sector lenders, but says the situation isn’t alarming. Chakrabarty cites precedents—back in March 1994, gross NPAs at Indian banks made up as much as 19.07% of total advances. For the next seven years, until March 2001, they remained in double digits as a percentage of the total loan book. “If the banks could survive that phase, they would definitely come out of the current crisis, too, particularly when they are adequately capitalized,” Chakrabarty argues..............

Read - Mint