Banking sector stressed, govt in no position to bail it out: Abhijit Banerjee

Nobel laureate and economist Abhijit Banerjee has said that the Indian banking sector is the "biggest stress point" and "government really isn't in a position to bail it out." Banerjee warned, "we are talking about a long process of attrition, that's going to be costly." He added that slowdown in auto sector shows people's lack of confidence in the economy.