India: The Rising Elephant

seems to be relentlessly on the rise. The collapse of Lehman Brothers and Merill Lynch, two of the biggest players in the financial services world, has had repercussions on investor confidence throughout the world. Indian banks (ICICI excluded) seem safe from these effects, largely due to conservative regulation by the RBI. The lost growth that we suffer due to high CRR and SLR requirements seem to have been compensated during this period - low risk, and low return - as they say.
I thought I'd compile a couple of expert analyses on this turbulence - both on the Indian experience specifically and the industry in general.

1. Nouriel Roubini takes a look at the impact on the mortgage/housing industry.
2. Raghuram Rajan suggests policy responses.
3. Chief Economic Advisor Arvind Virmani reflects on lessons India can learn from the US.
4. Another analysis of the lessons to be learnt can be found here.