In an op-ed, Prof. Viral Acharya explains why India's debt structure is problematic
— February 4, 2013
Excerpt from LiveMint -- "While India has not experienced a crisis recently, the ownership structure of government debt seems problematic from the view of financial and economic stability. More than 80% of government debt in India is held by banks and state-owned insurance companies. This ownership structure, coupled with substantial public ownership of banks and financial institutions, implies a strong nexus between banks and governments."