India
India’s card payments market to rise 28.6% to $337.1b in 2023
India’s card payments market to rise 28.6% to $337.1b in 2023
Consumers in India are increasingly embracing electronic payments, GlobalData said.
More cryptocurrency users in India by 2027, to surpass US and UK combined
India is expected to account for 33% of one billion global users in four years.
India assures banks it’s ready to manage outflow of Russian funds: report
Russian companies have accumulated billions of rupees in local banks.
India’s card payments to triple in size by 2027: GlobalData
It is expected to triple in size to $728.2b in 2027 from last year’s $262.1b.
Public Bank enhances security measures against scams
This warning goes on the back of a recent social media scam that promoted small-interest loans.
India’s HDFC to offer 2% shares in NSDL IPO
This is equivalent to four million equity shares.
HSBC launches global private banking business in India
It will service clients with investable assets of over $2m.
Indian banks’ bad assets improve to 10-year low: CareEdge
SCB’s recorded a 10-year low of 3.9% for its GNPA.
India's competition entity approves HDFC’s request to increase shareholding in HDFC Life, Ergo
HDFC increased its shareholding in the two entities to more than 50%.
IndusInd Bank, Wise offer remittance services to US, Singapore
Internationally-based Indian citizens can remit from Singapore and the US.
India’s Axis Bank names central bank ex-deputy governor as non-executive chairman
N.S. Vishwanathan will assume the role on 27 October, pending approval.
Citi launches sustainable time deposit for India-based institutional clients
This is the product’s third market, after Singapore and Hong Kong.
Axis Bank names Nurani Subramanian Vishwanathan as independent director
Vishwanathan has had diverse experiences as a central banker since 1981.
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.
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