India

Loans particularly auto, credit cards, and business banking charged ahead.

It aims to serve the Indian population in the two economies.

The Jan Dhan Scheme has brought an additional 310 million people into the banking system.

The banking sector is saddled with $210b in problem loans. Bloomberg reports that India’s chronic bad debt problem has spiraled beyond the control of the formal banking sector to the extent that it has dampened economic forecasts for the country. "The problems in India’s banking system are self-inflicted mostly because of lack of due diligence," said N.R. Bhanumurthy, a Delhi-based economist at the National Institute of Public Finance & Policy. "Of course this will affect growth."

ATM withdrawals are surging as the country still reels from the 2016 demonetisation.

Its $33.84b market cap beats the state-bank by a mere margin.

The recovery loan on defaulted loans in the country are at a dismal 26%.

The leeway would give banks much-needed time to raise more capital.

‘Social Pay’ will be available on the banking app Money2India.

They perform money transfer, deposits, and withdrawals largely for the low-income segment.

Most relevant documents on LoUs have not yet been recovered which may push the fraud value higher.

Nearly 9 in 10 consumers have a mobile wallet to pay for utilities, transport, and movies.

Nearly 70 more banks are under review.

Banking is considered by most as the business of money. However, talk to a banking veteran and he or she will categorically instruct you that banking is a business of customers. This realisation is what ensured that customer centricity is an important value adopted by banks; and it has stood us in good stead. It then follows, that if we are in the business of customer, then our business is shaped by evolving changes in customer behaviour.

Consumers are increasingly using e-wallets for their daily transactions like food and transport.

Google is now head to head with Axis Bank in digital transactions.