India
Axis Bank’s Citi purchase to improve profits long-term: S&P
Axis Bank’s Citi purchase to improve profits long-term: S&P
Positive effects will only be felt starting fiscal year 2025 and onwards.
Axis Bank to buy Citi’s Indian consumer business for $1.6b
Axis Bank expects to gain more or less 3 million customers.
Weekly Global News Wrap: India’s Paytm Bank punished for data lapses; Record bonuses spur Wall Street banks’ staff churn
And Barclays suspends sales of two products related to oil, volatility.
Chart of the Week: India’s mobile wallet payments market to hit $4.1t in 2025
In 2022, the market will grow to $1.7t, according to GlobalData.
Standard Chartered India appoints Saurabh Jain as new WM head
Jain first joined Standard Chartered in 2019 as CEO of its Indian securities business.
Standard Chartered, IATA launch airline payment platform in India
IATA Pay offers instant payment options such as UPI Scan & Pay and UPI Collect.
Weekly Global News Wrap: India poised for digital rupee launch; UBS reports best annual profits since GFC
And Goldman Sachs’ US staff returns to office for the first time in 2022.
India’s card payments market to grow 31.2% in 2022
Growing adoption of electronic payments will help push up the card market.
Buy now, pay later gains traction in India
Low credit penetration makes it favourable for BNPL.
HSBC India unveils one-stop solution simplifies cross-border transactions
It enables end-to-end visibility for both the user and their clients.
Indian banks strong buffers to limit risk of COVID-19 resurgence: analyst
Several factors will help Indian banks mitigate their risks.
India’s COVID surge to impede borrowers’ debt repayment capacity: Moody’s
The economy will return to growth by end of the fiscal year, but asset quality will remain in doldrums.
Over $6b of Indian banks’ loans in possible jeopardy: report
Future's botched sale of retail assets could lead to problems for State Bank of India, other lenders.
India mulls phased roll out of central bank digital currencies: report
Its launch will require legal changes to the nation’s foreign exchange and IT rules.
India’s private banks to widen gap with state peers when economy rcovers: report
Investors will likely seek signs that private lenders will be able to step up lending once COVID subsides.
India’s banking system privatization plagued with capital, regulatory woes
They need to pump money into lenders before selling them if they want to make them more attractive to potential buyers, reports S&P.
Second wave of COVID infections impairs Indian banks’ performance through 2022
Recovery will be more subdued as households prioritize rebuilding their savings.
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