India

The defaults of Infrastructure Leasing & Financial Services and Dewan Housing has investors spooked.

The bank aims to launch credit card services by Q3 2020.

By refusing to ditch the physical bank branch and prioritising the improvement of its mobile offerings, DBS has fully embraced the phygital model in India.

Home and retail sectors drove lending gains.

They have already clinched more than $2b worth of overseas bonds and loans in 2019. Bloomberg reports that shadow banks in India are looking outside the country in search for earnings amidst lenders that have been hesitating in extending funds.

Year-end interest income rose 15.6% amidst sustained credit recovery.

India is reportedly aiming to merge Punjab National Bank with up to three other banks.

The card offers waives an annual fee of $7.10 on annual spending over $710.

Global PayEx offers a cloud-based platform that facilitates electronic invoice sharing.

Punjab National Bank, Union Bank of India and Bank of India are possible targets.

Deposits grew by 10%.

He currently serves as global head of subsidiary coverage.

Lower government spending and higher cash withdrawal contributed to the deficit.

The proposed merger between Lakshmi Vilas Bank and Indiabulls Housing Finance could be the catalyst to change the tide.

Lenders are hit with a total bad debt of $146b.

The NPL ratio fell to 10.8% from 11.5% the previous year.