The Reserve Bank of India (RBI) has had enough. Despite lenders’ protestations, the banking regulator believes a complete overhaul in the reporting and resolution structure…
DÉJÀ VU
India’s ATM crisis proves that demonetisation failed and cash remains king
For weeks now, ATMs across India have been displaying the “no cash” sign. The situation came to a head in the past few days, setting…
FLYING AWAY
Why India’s cryptocurrency exchanges may move to Singapore, Switzerland, or Malta
The Indian central bank’s crackdown on virtual money may drive cryptocurrency exchanges out of the country to more friendly locations. Earlier this month, the Reserve…
FIGHT BACK
India’s cryptocurrency exchanges may move the supreme court to challenge RBI crackdown
Indian cryptocurrency exchanges are not willing to go down without a fight. Following the Reserve Bank of India’s (RBI) April 05 order, banks have asked…
TECH-SAVVY
In India, criminals are now extorting bitcoin from their victims
Criminals in India now want bitcoin as ransom. Nine rogue police officers in the western Indian state of Gujarat were arrested on April 08 for…
SUDDEN EXIT
What went wrong at Axis Bank under Shikha Sharma’s watch
The troubles at India’s private lenders are escalating. Shikha Sharma, managing director and CEO of Axis Bank, has decided to shorten her tenure by more…
TOO LITTLE, TOO LATE?
The unanswered questions in the ICICI Bank controversy
India’s second-largest private lender, ICICI Bank, is battling one of its biggest crises ever. The Central Bureau of Investigation (CBI), the country’s premier investigating agency,…
FLIPPED
India cracks down on bitcoin and hints it may launch its own digital currency
The cryptocurrency debate in India has turned on its head. The Reserve Bank of India (RBI) has initiated a crackdown on cryptocurrencies such as bitcoin,…
BRACE YOURSELF
After its telecom rampage, Mukesh Ambani’s Reliance turns to Indian banking
India’s most valuable company, led by the country’s richest man Mukesh Ambani, has entered another business: banking. The last new venture by Reliance Industries (RIL)—…
NO ACHHE DIN
Indian companies have scrapped projects worth $117 billion in just one year
The Indian government’s clarion call for more job-creating private investments seems to be falling on deaf ears. Instead, India Inc is mothballing projects at a…
TOUGH TIMES DO LAST
It’s not going to get better for Indian banks anytime soon
The toxic-loan pile in Indian banking is set to get even bigger. After borrowers from the power and steel sectors brought lenders to their knees…
LESSON LEARNT
Why Indian banks don’t like lending to students
Indian banks, reeling under a mammoth pile of bad loans, are turning down students seeking loans. Between 2015 and 2017, growth in education loans slipped…
