“The South Asian region’s largest economy, India, would see growth rise to 5.7% in fiscal year 2014 from 4.8% last fiscal year with activity receiving a boost from a more competitive exchange rate and many large investment projects going ahead. In India the problem was the banking sector’s growing exposure to company debt. There is fear that this could ultimately affect the government’s finances through its ownership of state banks & hence there is a need to prop up distressed but systemically important banks.” – World Bank in its latest edition of ‘South Asia Economic Focus.’