List of Figures; List of Tables; Foreword by C. Rangarajan; Acknowledgements; 1. Prologue; 2. The Indian Banking Sector: A Brief History; 3. The Index of Credit Allocative Efficiency; 4. Macroeconomic Analyses of Bank Credit Misallocation in the Indian Corporate Sector: Investigation of Pro-cyclicality; 5. Determinants of Bank Credit Misallocation: Firm-level Analysis; 6. Allocative Efficiency of Bank Credit and Firm Performance; 7. Credit Reallocation by Indian Banks in the Aftermath of the Global Financial Crisis; 8. The Zombie Story: Credit Boom and the Rise of Zombie Firms in the Indian Economy; 9. Epilogue; Bibliography; Index.