A ritual familiar to students of the sub-prime and euro crises has started taking place on Indian banks' conference calls with analysts and investors. The number-crunchers probe the lenders about their exposures to potential bad debts. Bank bosses insist that, although there are niggles, all is under control.Some scepticism is due. With India's economy slowing-growth could dip below 8% this year, from a peak of 9-10%-and interest rates rising (see chart), borrowers will be under more strain. India's banks have been growing fast for years, often a sign that discipline has slipped. Total loans have almost tripled since 2005.
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