No light at the end of the tunnel?

It's not all gloom and doom in Indian banking

Former Reserve Bank of India Governor Urjit Patel’s talk on India’s banking sector at Stanford University last June has not received the attention it deserves. Patel sees no light at the end of a long tunnel. His diagnosis is debatable and his pessimism seems overdone. 

Three points emerge from Patel’s talk. One, the present non-performing asset (NPA) crisis largely stems from regulatory failures and public ownership of banks. (Patel believes the two are linked). Two, Raghuram Rajan and Patel made a valiant attempt to rectify the failures of the past by tightening regulation during their tenures. Three, there are indications once