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India is considering allowing foreigners to hold up to 49% stake in its public sector banks as policymakers look to increase capital in these lenders to fund growth, without giving up control completely. State Bank of India and HDFC Bank are the only Indian banks to feature in the top 100 globally by assets. (Bloomberg)…
Union Finance Minister Nirmala Sitharaman on Sunday announced a series of measures aimed at strengthening India’s banking and financial ecosystem, as she underlined the improved health of the sector and outlined the next phase of reforms under the Grow India vision. In her budget speech, Sitharaman said, “I propose to set up a high-level committee…
Axis Bank Chief Executive Amitabh Choudhary said India will need “at least eight to 10” big banks to support economic growth as the pace of consolidation increases across the region. Amitabh Chaudhary, Chief Executive Officer of Axis Bank. (Bloomberg) “It’s a play on the entire product suite” and “we don’t have that in the country…
