Ajay Kanwal: India performing below potential

In his first television interview after taking over as CEO ASEAN and South Asia at Standard Chartered bank, Ajay Kanwal asserts that the NPA mess in India does not pose a systemic risk to the banks. He also insists that given the crisis, Indian promoters are not just looking at restructuring debt but are also actively scouting for buyers. With the Union Budget round the corner, Kanwal says India must meet its fiscal deficit target at all costs. Supriya Shrinate began by asking him on muted growth levels in India and the slow pace of reforms.