Indian banks better placed than global peers: ex-OBC Chmn

Many banks, including the public sector banks, have bleeding for a while now, but on Thursday they intensified the losses.

Ex-chairman of Oriental Bank of Commerce (OBC), BD Narang ranked banks in India at a much better place than any other banks around the world. Moreover, he seemed so bullish on the banks going forward that advised investors to buy banks at this point in time.
He believes that the worst is over for the banking and realty sector. He explained, "The worst is over for Indian banks and real estate. By and large, banks in India are now in a position to absorb the shock by making additional provisions." Here is the edited transcript of the interview. Also watch the accompanying video. Q: The concern seems to be on the amount of slippage in asset quality given the kind of exposure banks have to sectors like real estate and infrastructure. Comparing the 2008 situation, how real is that fear?
A: This slide is because of the weak critical sentiment and events taking place in the west. In 2008, we had prepared a worst case scenario. Luckily, banks in India outperformed the worst case scenario. Our capitalisation and disclosure quality is very good, and level of provisioning has improved substantially. There isn