India

Axis Bank names Nurani Subramanian Vishwanathan as independent director

Vishwanathan has had diverse experiences as a central banker since 1981.

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.

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.

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).

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.

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.