India

The country’s ultra wealthy are shunning property and gold and turning to equity and debt investments.

The bank has diversified its loan mix to retail and SMEs to avoid poor asset quality.

It will be deployed to its Koramangala branch in India.

Profitability is set to suffer but cleaner balance sheets will produce benefits in the long-run.

Loans particularly auto, credit cards, and business banking charged ahead.

It aims to serve the Indian population in the two economies.

The Jan Dhan Scheme has brought an additional 310 million people into the banking system.

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."

ATM withdrawals are surging as the country still reels from the 2016 demonetisation.

Its $33.84b market cap beats the state-bank by a mere margin.

The recovery loan on defaulted loans in the country are at a dismal 26%.

The leeway would give banks much-needed time to raise more capital.

‘Social Pay’ will be available on the banking app Money2India.

They perform money transfer, deposits, and withdrawals largely for the low-income segment.

Most relevant documents on LoUs have not yet been recovered which may push the fraud value higher.

Nearly 9 in 10 consumers have a mobile wallet to pay for utilities, transport, and movies.