India
India's banking woes dampen economic outlook
India's banking woes dampen economic outlook
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."
Indian banks are facing another massive cash crunch
ATM withdrawals are surging as the country still reels from the 2016 demonetisation.
Kotak Bank zooms past SBI to stand as India's second most valuable lender
Its $33.84b market cap beats the state-bank by a mere margin.
Can India ease its bad loan woes before another banking scandal erupts?
The recovery loan on defaulted loans in the country are at a dismal 26%.
Bad debt burden delays Basel III adoption in Indian banks
The leeway would give banks much-needed time to raise more capital.
ICICI Bank unveils cross-border remittance service via social media
‘Social Pay’ will be available on the banking app Money2India.
How can community shops become a growing woe for Indian banks?
They perform money transfer, deposits, and withdrawals largely for the low-income segment.
India's largest bank fraud likely to swell beyond $2b
Most relevant documents on LoUs have not yet been recovered which may push the fraud value higher.
Indian banking apps are losing to mobile wallets big time
Nearly 9 in 10 consumers have a mobile wallet to pay for utilities, transport, and movies.
India to merge 35 overseas branches of state banks after $2b fraud case
Nearly 70 more banks are under review.
Banking in the digital era: Challenges and opportunities
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.
Mobile wallets trump cash as India's e-payments grow forty-fold
Consumers are increasingly using e-wallets for their daily transactions like food and transport.
Chart of the Week: Check out how Indian banks compete with tech giants in payments
Google is now head to head with Axis Bank in digital transactions.
How can Indian banks take more advantage of open banking?
It involves consumer centricity and building alliances at the core of their strategy.
India discovers $3.6b of banks' hidden bad loans: Bloomberg
This amplifies concerns about underreporting and distress in the financial sector.
Foreign Indian banks are more transparent than local peers
Their transparency compliance came close to perfect at 99% in 2017.
ICICI Bank sees better asset quality after 3 bad years
Loan growth is gaining momentum and credit costs are normalising.
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