India Banks: RBI directive destroys transparency

As I have said in two earlier posts:

1. India Banks: Slippery slope ahead
2. India Economy: Policy Rate Cuts
   

the RBI acquisience to industry demands for accounting gimmicks has made valuation of Banks an impossible short term task.  Realty problems have been swept under the rug...So, I am rescinding my earlier view that Banks in India are offering good value.

It may be the case that Banks offer value, but the RBI move smells...in a market fraught with danger and zero profit visibility I hoped we would be upfront with the problems.

(click to enlarge)