Indian banking & finance 2005

FT has an excellent coverage on India’s banking and finance sector.

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:

“If 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.”

That said, we are making progress. Albeit slowly. And that in itself a reason to rejoice.