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Standard Chartered's unravelling India bet means more pain ahead

Bank recorded US$315m of loan impairments in the country in Q3 - or a quarter of the global total

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Mr Winters must untangle the Indian bad-loan mess even as he retains his predecessor's focus on emerging markets. It may take time: 65% of exposure is to below-investment-grade borrowers.

Mumbai

WHEN India's billionaire Ruia brothers went looking for loans to expand their steel-to-power empire around the turn of the decade, Standard Chartered Plc stepped up.

Some five years later, the US$2.5 billion Standard Chartered lent to the Ruias' Essar conglomerate is among

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