It is time for India’s public banks to come clean about their subprime mortgage exposure, or so says a recent article in the  Economic Times from India.  Many had held out hope that the public banks were somewhat wiser in limiting their exposure to the currently distressed subprime assets, but it seems their exposure to them is not marginal.  We may not get full details on the Indian public banks until their announce their full report early next month.  Estimates vary widely as to the exact amount of the exposure, so really they are borderline useless.  Just another example on how the subprime mortgage problems ripple effect continues to roll.