Japan’s SMBC opens a branch in India’s GIFT City

The branch is slated to open in the first half of 2024.

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.

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.

India’s Paytm meets with central bank following suspension of deposits: report

Paytm is reportedly seeking to extend the RBI’s 29 February deadline, a source said.

India’s ICICI Bank to maintain healthy earnings in the near term

Credit growth is expected to remain strong, at between 17% to 20%.

India’s commercial banks reports 17% higher net interest incomes

Banks also witnessed a 13.5% deposit growth for the quarter.

SMBC India names Sandeep Chopra as head of corporate coverage

Chopra reports to Rakesh Garg, chief business officer of SMBC India.

IRDAI assembles taskforce for bancassurance

The share of banks as corporate agents was 5.93% of non-life insurance and 17.44% of new business premiums in 2022-23.

Zurich acquires 51% stake in Kotak Mahindra Bank's general insurance arm

The insurer said it plans to buy 19% more in the future.