India
India’s central bank names new executive director
Shri R. Lakshmi Kanth Rao was previously a head at the department of regulation.
1 day ago
India’s central bank names new executive director
Shri R. Lakshmi Kanth Rao was previously a head at the department of regulation.
1 day ago
India’s ICICI enables non-resident Indian customers to make UPI payments
The service is available through the iMobile Pay app.
India's urban e-commerce thriving amidst economic challenges: report
Pandemic-induced restrictions accelerated the adoption of e-commerce.
India changes criteria for small banks seeking to be universal banks
Net worth lowered, but must be profitable in the past two years.
India floats regulations for non-bank POS payment aggregators
They are required to apply authorisation from the RBI by May 2025.
India rejects 2 applicants for a small finance bank licence
Two other applications remain under examination.
Japan’s SMBC opens a branch in India’s GIFT City
The branch is slated to open in the first half of 2024.
Indian banks’ profits dragged by rising costs and tightening money supply
Deposit growth and credit growth will slow, impacting banks’ margins.
UPI propels India’s mobile wallet payments to $6.5t by 2028
In February 2024, $221.5b in value was paid across 12.1 billion UPI transactions.
India’s stricter regulations to pull down FIs’ loan growth and raise costs
Loan growth is expected to register a 16% decline in 2024.
1 in 4 e-commerce transactions in India use alternative payments
Cash makes up barely 1 in 10 of transactions, according to GlobalData.
India’s HDFC Bank penalised by state tax officer of Gujarat
This is due to “disallowance of input tax credit” under section 73 of the CGST Act.
Indian commercial banks’ bad loans declined by 21.1% in 2023: analyst
Net non-performing assets dropped to a record low in Q3 FY2024.
Loan growth ambitions push Indian banks to ‘deposit war’
Loan growth is expected to fall in 2025 with possible intensified deposit competition.
HDFC Bank unveils business credit cards with 55-days interest free
The cards offer up to ten times rewards points on business spends.
India’s private banks’ NIMs contract 32 basis points in Oct-Dec 2023
Growth in unsecured loans is expected to slow, which will impact credit growth and NIMs.
Chart of the Week: Indian banks’ credit exposure to NBFCs slows in Dec
However, the growth trajectory is still higher compared to a couple of years ago, data showed.
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