Tharoor, Shashi (2007), The Elephant, The Tiger and the Cellphone: Reflections on India: – The Emerging 21st Century Power, New York: Arcade Publishers Subbarao, Duvvuri (2011), “Rejigging the Elephant Dance”, Haksar Memorial Lecture delivered by Dr. Duvvuri Subbarao, Governor, Reserve Bank of India at the Centre for Research in Rural & Industrial Development, Chandigarh on November 25, 2011, reprinted in RBI Bulletin, December 2011, p.2041–48.
Consumer and mortgage loans have not suffered the sharp run-up in delinquencies that loans in the business sector have, and they have contributed significantly to the earnings of the banking system, providing it with the ability to absorb losses elsewhere, to maintain loss reserves, and still to show significant profits.