Its great that India’s banking sector is not riddled with as many problems as that of China’s, but we still have a long way to go. Nevertheless, Prime Minister Manmohan Singh seems to be quite happy just to be ahead of our next door neighbours:
â€œIf there is one aspect in which we can confidently assert that India is ahead of China, that is in the robustness and soundness of our banking system.â€
That said, we are making progress. Albeit slowly. And that in itself a reason to rejoice.