India

India plans ‘bad bank’ to tidy up struggling banking sector

India plans ‘bad bank’ to tidy up struggling banking sector

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Indian finance minister Nirmala Sitharaman announced a huge $500bn budget on February 1, focused on healthcare and infrastructure and aimed at boosting the country’s Covid-19 ravaged economy. During her speech, she also committed the Indian government to forming a ‘bad bank’, in an attempt to tidy up the country’s struggling banking sector. India’s banks entered … Read more

Fintech drives Indian financial services investment

Fintech drives Indian financial services investment

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Financial services investment into India has soared over the past five years, with foreign investors particularly attracted to fintech opportunities in the country despite a slowdown in projects in 2020 because of the Covid-19 pandemic. The number of financial services foreign direct investment (FDI) projects reached 36 last year (January to November data) from 14 … Read more