Read the following passage carefully and answer the question given below it. Certain words/phrases have been printed in bold to help you locate them while answering some of the questions.
Despite the economic crunch worldwide that saw pulverization of some of the largest banking and finance giants, Indian banking houses have managed to show positive growth this quarter. Some of India’s leading national banks have posted a net profit rise of more than 40% over the last quarter amid global turmoil. This would come as a big shot in the arm for the investors and consumers of these banks even though apprehension is mounting on other banking and broking firms worldwide .One of the main reasons behind the success of India .People take solace in their investment in public sector watching the bailout packages being cashed out by government all over the world to save big business house.
Other private banks in India have also reported a substantial net profit over the least queer given the international and domestic scenario one cannot put this down as a mundane achievement. While other are on coat cutting spree and firing employees, Indian companies are actually working on boosting staffing in banking and broking sectors. This can be seen as a big boon in the days to come when the economy gradually comes back on to the fast track. The finance ministry has assured Indian public about the sound health of India banks. This could also be evident from the fact that there have been no mergers and takeovers in Indian banking sector in a contrast to would scenario where finance houses are looking mergers to cut costs on operations. We definitely are not looking to thrive; rather we are not looking for growth. It is just that the pace of growth is a little slow now as compared to a year or two before. These are hard times to test the hard. The weak in business and career will be weeded out and it is sometimes very beneficial for business on the long run.
Which of the following statements is definitely true in the context of the passage ?
(A)India has not been affected by the economic slowdown
(B)Indian Banks are showing growth in the quarter despite the recession
(C)While banking industry in the West was severely affected by recession in the past it is now gradually recovering and showing positive growth