Salient to Investors:
The IMF said:
- India’s financial system is vulnerable due to a deterioration in bank assets and a lack of capital as the economy slowed.
- Increasing involvement in the financial industry leaves the government exposed to losses at banks and is braking economic growth
- India’s economy will expand 6 percent in 2013 versus 4.9 percent in 2012, the least since at least 2005.
Read the full article at http://www.bloomberg.com/news/2013-01-15/india-banks-system-face-worsening-asset-quality-imf-says.html.