India
Indian banks’ profits to stabilize; weak assets to persist for some
Indian banks’ profits to stabilize; weak assets to persist for some
Weak assets are expected to make up 5.2% of gross loans for FY2023.
Mobile wallet payments in India to hit $5.7t in 2027
The value of mobile wallet payments doubled from 2018 to 2022.
India’s Muthoot Financial retains stable asset quality, moderate profits
Credit costs have also been at a low 0.1% to 0.2% since March 2019.
HSBC penalised by India's central bank
The bank reported inaccurate credit information for several expired credit cards.
Manappuram Finance reputation at risk amidst invention
The Indian NBFC may be facing money laundering investigations.
India’s Yes Bank records 45% net profit drop: report
Net profit fell much lower than anticipated by analysts.
DBS India launches investment solutions in online platform
The platform is powered by Morningstar.
MUFG Bank invests over $230m in Indian fintech DMI Finance
It has serviced over 11 million customers as of end-2022.
Reserve Bank of India grants Paytm regulator extension for PA license
The fintech company is still awaiting approval from the Government of India (GoI).
India’s banks can withstand fallout from US bank failures, Credit Suisse sale
The companies have manageable exposure to these banks.
Citi appoints Bhanu Vohra as India head of commercial banking
He reports to Tushar Vikram and Rajat Madhok.
Citi completes sale of India consumer business to Axis Bank
Approximately 3,200 Citi employees have been transferred.
India’s card payments market to grow 23.6% to $361.6b in 2023: analyst
Rising consumer spending will rally the market to extend 2022’s growth.
UPI’s linkage to SG’s PayNow a step closer to global payment brand ambitions: analyst
UPI registered a 75.9% growth in 2022.
JCB has issued 1 million cards in India
RuPay JCB cardholders are eligible for a 40% cashback on select international transactions.
Indian banks’ Adani exposure minimal: Moody’s
Eexposure is less than 1% of banks’ total loans, the ratings agency estimates.
Chart of the Week: India’s card payments market to reach $581.2b by 2026
The card payments market value grew 26.7% in 2022, according to estimates.
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