Opinion | What ails the Indian banking sector?
6 years, 3 months ago

Opinion | What ails the Indian banking sector?

Live Mint  

The past two years or so have seen rapidly increasing stress in the Indian banking sector, with non-performing assets steadily climbing from under 3% to over 13% of total assets. Prior to that, Indian banks mainly had two types of loans: working capital loans to production entities, firms, and farmers ; and retail term loans to households for housing, and durable goods. The NPA problem has arisen from four features that characterised bank loans for fixed capital formation: Banks do not have the capacity to assess long-term credit-worthiness of borrowers. The global financial crisis in 2008-09 required banks to take substantial further exposures in long-term loans as external commercial borrowings by Indian corporates dried up. First, if banks are required to issue bonds to finance a part of their term loans, it would lead to a much more rational yield curve on bank loans since the interest rate on bonds would be significantly higher than that on deposits.

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History of this topic

Navigating The Neo-Banking Wave: Insights Into India's Digital Financial Future
5 days, 5 hours ago

Navigating The Neo-Banking Wave: Insights Into India's Digital Financial Future

Live Law  

The novel point of neobanks is that they operate sans physical branches, utilizing dynamic business models and upscale technological tools to improve customers' ease of use, transparency, and service efficiency. Notably, these include: Banking Regulation Act, 1949, Section 23: Master Circular on Branch Authorization Framework for Outsourcing of Payment and Settlement-related Activities by Payment System Operators Guidelines on Managing Risks …

NPAs at 12-year low, red flags in some areas, says RBI report
2 weeks, 1 day ago

NPAs at 12-year low, red flags in some areas, says RBI report

Hindustan Times  

Indian banks’ bad loans fell to their lowest level in 12 years, although early warning indicators suggest potential stress in some sectors, the Reserve Bank of India’s financial stability report stated on Monday. NPAs at 12-year low, red flags in some areas, says RBI report The gross non-performing assets ratio of scheduled commercial banks declined to 2.6% in September 2024, …

Indian banks’ profitability improves for six straight years, NPAs decline to 13-year low: RBI report
2 weeks, 5 days ago

Indian banks’ profitability improves for six straight years, NPAs decline to 13-year low: RBI report

Live Mint  

The profitability of banks improved for the sixth consecutive year in 2023-24 and their gross bad debts or non-performing assets declined to a 13-year low of 2.7 per cent. "Banks’ profitability rose for the sixth consecutive year in 2023-24 and continued to rise in H1:2024-25 with the return on assets at 1.4 per cent and return on equity at 14.6 …

How 2024 Banking Reforms Will Shape India's Economic Future
1 month ago

How 2024 Banking Reforms Will Shape India's Economic Future

The Quint  

Attracting qualified directors and auditors remains another obstacle, particularly for smaller institutions. The Banking Laws Bill, 2024, holds immense potential to modernise India’s financial system by fostering resilience, inclusivity, and governance reform. Furthermore, if viewed from a bird’s eye macro-lens, firms, due to a compressed demand position and slowing consumption expenditure are sitting on credit and cash without substantially investing …

Banking reforms need to get a lot more ambitious for the economy’s sake
1 month, 1 week ago

Banking reforms need to get a lot more ambitious for the economy’s sake

Live Mint  

The 19 amendments to banking laws that were passed by the Lok Sabha on Tuesday remove various niggles in extant provisions, straighten out some others and make life easier for bank customers, especially a tweak that allows four nominees per account. While more than 90% of India’s nearly 60 million MSMEs are micro sized and best served by specialized non-bank …

Rising Defaults Among Retail Borrowers are Stressing India’s Top Banks
1 month, 4 weeks ago

Rising Defaults Among Retail Borrowers are Stressing India’s Top Banks

The Quint  

Given that India’s economic growth relies heavily on domestic consumption, any slowdown in lending could ripple through the broader economy, impacting sectors dependent on consumer spending. Moreover, as banks shift their focus from retail to secured loans to mitigate risks, small and medium enterprises could face reduced access to capital, hindering job creation and slowing down economic expansion. In October, …

Economic Survey 2023-24: Displaying stellar show banking, financial sectors must brace for likely vulnerabilities
5 months, 3 weeks ago

Economic Survey 2023-24: Displaying stellar show banking, financial sectors must brace for likely vulnerabilities

The Hindu  

With India’s banking and financial sectors displaying a stellar performance in FY24 and as India’s financial sector undergoes critical transformation, it must brace for likely vulnerabilities originating globally or locally, the Economic Survey 2023-24 has cautioned. Economic Survey 2023-24 LIVE updates In FY24 bank credit witnessed double digit and broad-based growth and asset quality improved dramatically with gross and net …

India's non-banking financial sector grew by 10%; declined globally by 3 %
6 months, 4 weeks ago

India's non-banking financial sector grew by 10%; declined globally by 3 %

Hindustan Times  

India's non-banking financial sector registered a growth of 10 per cent however globally the sector declined by 3 per cent, highlights a report by SBI. The report highlighted India as the third-largest entities in the non-banking financial sector, following the United States and the United Kingdom. However, Economic Function 2 entities i.e., entities undertaking lending activities, which are akin to …

Net Zero By 2070: Why India Must Focus On Transition Finance, Decoupling Emissions From Growth
10 months, 4 weeks ago

Net Zero By 2070: Why India Must Focus On Transition Finance, Decoupling Emissions From Growth

ABP News  

Backed by a vibrant private sector, innovative technologies, and an enabling policy environment, India has made great strides in its transition towards a low-carbon economy. All this would require innovative financing and capital towards scaling up energy efficiency, renewable energy capacity, upgradations of grid network, assistance for enhanced energy access to last mile end user communities, and a just transition …

FM Sitharaman calls for more SBI-sized banks as India’s economy grows
11 months, 1 week ago

FM Sitharaman calls for more SBI-sized banks as India’s economy grows

Live Mint  

Finance Minister Nirmala Sitharaman in an interview with Mint said that the Indian economy is going through a structural transformation and conventional paradigms are being challenged. STRUCTURAL TRANSFORMATION IN RURAL AREAS Nirmala Sitharaman said that the government is working on data to measure the structural transformation in rural areas. "Government is prepared to address any impact on the rural economy …

‘Banks need to finetune systems to curb fraud’
11 months, 3 weeks ago

‘Banks need to finetune systems to curb fraud’

The Hindu  

Though the Indian banking sector has undergone phase-wise reforms over the past few decades, the banks have to finetune their systems to curb the incidence of frauds in the sector, W.K. He was delivering the inaugural address at the two-day national conference on ‘Financial Sector Reforms in India’ organised by Gulbarga University here on Friday. Prof. Sarwade claimed that the …

Getting Indian banks back on the track
1 year, 1 month ago

Getting Indian banks back on the track

Hindustan Times  

After a long slump, private sector investments in India may be on the cusp of a revival, according to some analysts. State Bank of India, would report a steep increase in bad loans every time its chairperson changed. The largest of them, State Bank of India, would report a steep increase in bad loans every time its chairperson changed. During …

Cleaning up of NPA mess will propel the economy
1 year, 5 months ago

Cleaning up of NPA mess will propel the economy

Hindustan Times  

To understand the complexities of India’s banking sector, one needs to grapple with a term that tends to recur with unsettling regularity – non-performing assets. The gross NPA ratio of scheduled commercial banks stood at 4.9%, and ₹66.6 lakh crore in March 2014 were bad loans. The National Democratic Alliance government took several steps to address the NPA problem, including …

Banks’ margin party is drawing to a close
1 year, 6 months ago

Banks’ margin party is drawing to a close

Live Mint  

The stellar rebound in India’s banking sector performance has been in focus in the recent quarters. Much of this is owing to the robust systemic bank credit growth and the sharp rise in lending rates, resulting in a significant improvement in the net interest margins of banks in the backdrop of RBI’s monetary tightening. As per RBI data, SCBs’ weighted …

Indian economy makes solid recovery despite global headwind: RBI Governor Das
1 year, 6 months ago

Indian economy makes solid recovery despite global headwind: RBI Governor Das

The Hindu  

Reserve Bank Governor Shaktikanta Das on June 28 said that the Indian economy has made a solid recovery and is among the fastest-growing large economies despite heightened uncertainties and formidable headwinds. The global financial system has been impacted by significant strains since early March 2023 from the banking turmoil in the U.S. and Europe. Since the last issue of the …

Indian economy, domestic financial system remain resilient despite global headwinds: RBI Governor Das
1 year, 6 months ago

Indian economy, domestic financial system remain resilient despite global headwinds: RBI Governor Das

India TV News  

Reserve Bank Governor Shaktikanta Das on Wednesday said that the Indian economy has made a strong recuperation and is among the quickest developing enormous economies in spite of elevated vulnerabilities and considerable headwinds. The global and Indian financial systems have traveled somewhat divergent paths since the FSR's last issue in December 2022. Since the beginning of March 2023, the turmoil …

ECONOMIC PERSPECTIVES | Neoliberal dilemma: Public sector banks turn a profit but privatisation not on cards for now
1 year, 7 months ago

ECONOMIC PERSPECTIVES | Neoliberal dilemma: Public sector banks turn a profit but privatisation not on cards for now

The Hindu  

Published : Jun 02, 2023 15:59 IST - 6 MINS READ The government’s economic spokespersons have been celebrating an ostensibly remarkable recovery in the country’s public banking sector. To ensure the solvency of and capital adequacy in banks, the government had to infuse Rs.3,10,997 crore into the public banking system from 2016-17 to 2020-21. Ever since the release of the …

Indian Banks Remain Resilient, Not Adversely Impacted by Recent Global Events: RBI Governor Shaktikanta Das
1 year, 8 months ago

Indian Banks Remain Resilient, Not Adversely Impacted by Recent Global Events: RBI Governor Shaktikanta Das

News 18  

RBI Governor Shaktikanta Das on Thursday said there is a renewed focus on the resilience and stability of the financial sector, and a resilient future-ready bank needs to be financially, operationally and organisationally resilient. He also said the Indian banking system remains resilient, and stress tests show Indian banks will be able to maintain capital adequacy above minimum requirement even …

ECONOMIC PERSPECTIVES | Is a reversal of bank nationalisation on the cards?
1 year, 11 months ago

ECONOMIC PERSPECTIVES | Is a reversal of bank nationalisation on the cards?

The Hindu  

Published : Jan 26, 2023 10:25 IST The semi-annual Financial Stability Report from the Reserve Bank of India signals that the country’s banking system, especially the public banking system, has put behind it the stress from disturbingly high non-performing or bad loans on its books. The asset quality review resulted in an increase in the volume of recorded gross NPAs …

Federal Bank: Redefining banking digitally and sustainably
1 year, 11 months ago

Federal Bank: Redefining banking digitally and sustainably

Live Mint  

Federal Bank is one of the leading and preferred Personal, NRI and business banking partners for customers across India. Strong momentum in credit growth SME book grew by 20% YoY Retail book up by 18% YoY Business banking book up by 18% YoY Corporate book up by 19% YoY Commercial credit book grew by 18% YoY CV/CE business grew by …

Has India tided over the problem of bad loans?
2 years ago

Has India tided over the problem of bad loans?

The Hindu  

The story so far: In December 2022, Finance Minister Nirmala Sitharaman told Parliament that banks had written off bad loans worth ₹10,09,511 crore during the last five financial years. In 2009, the RBI brought out norms that set out categories of NPAs and what banks must do as these bad loans aged. Bad loans are a problem, for, with time, …

Banking data bodes well for the economy
2 years ago

Banking data bodes well for the economy

Hindustan Times  

The Reserve Bank of India ’s Report on Trend and Progress of Banking in India 2021-22, released on December 27, underlines the trend of continuous improvement in the health of India’s banking sector. The credit goes to RBI’s nimble-footed approach during the pandemic’s disruption and its sustained efforts to clean bank balance sheets in India. To be sure, the story …

Indian Banks GNPAs Down To 5% In September 2022, Macroeconomic Conditions Can Impact Banks Health RBI Report
2 years ago

Indian Banks GNPAs Down To 5% In September 2022, Macroeconomic Conditions Can Impact Banks Health RBI Report

ABP News  

Gross Non-Performing Assets of Indian banks declined to 5 per cent in september but the present macroeconomic environment can impact lenders' health, said a new Reserve Bank of India report. The report said, “from its peak in 2017-18, the GNPA ratio of SCBs has been declining sequentially to reach 5 per cent at end-September 2022.” It said that the number …

Indian banking sector at forefront of cyber-attacks: What are major threats and way ahead
2 years, 2 months ago

Indian banking sector at forefront of cyber-attacks: What are major threats and way ahead

Firstpost  

The government data establish the sharp rise in attacks on the banking and financial sector. Between June 2018 and March 2022, India’s banks recorded 248 successful data breaches by hackers and criminals, central government notified Parliament on 2 August Ahead of Diwali, Uttar Pradesh cyber police arrested techies and a former bank employee involved in a Rs 145 crore illegal …

‘Govt., RBI measures help banks recover bad loans worth more than ₹8.6 lakh crore in last 8 fiscal years’
2 years, 5 months ago

‘Govt., RBI measures help banks recover bad loans worth more than ₹8.6 lakh crore in last 8 fiscal years’

The Hindu  

Concrete steps taken by the government and RBI helped banks recover bad loans worth more than ₹8.6 lakh crore in the last eight financial years, the government informed Parliament on Monday. Several factors - including prevailing macroeconomic conditions, sectoral issues, global business environment, delayed recognition of stress by banks, aggressive lending during upturns, improper risk pricing and poor credit underwriting …

Bad loans: Why, this time, it’s different
2 years, 9 months ago

Bad loans: Why, this time, it’s different

Hindustan Times  

Non-performing assets or bad loans of banks have come down to their lowest levels, Reserve Bank of India governor Shaktikanta Das said at a Confederation of Indian Industry event on March 21. When seen in the context of gross NPA share falling to 6.9% of all loans, according to RBI’s Financial Stability Report released in December 2021 — the latest …

Credit-starved India Cannot Achieve Double-digit Growth. It Needs Digital Banks for Lending
3 years ago

Credit-starved India Cannot Achieve Double-digit Growth. It Needs Digital Banks for Lending

News 18  

The Indian economy might have been “liberalized” since the early 1990s, yet a sector–banking–still exists where a license is given and the business model defined by the regulator. The need for regulation for digital banks arises as traditional universal banks like Kotak are already offering digital banking through their 811 service. These banks can leverage a new deposit base like …

Banking regulation and the law of unintended consequences
3 years, 3 months ago

Banking regulation and the law of unintended consequences

Live Mint  

Many well-intentioned steps taken by regulators in the past are creating headaches on multiple fronts due to the unintended consequences of specific measures. The RRA could suggest better digital information sharing and monitoring mechanisms among banks to enforce credit discipline, even if businesses are allowed to operate multiple current accounts. Being obliged to lend ₹40 of every ₹100 to lower …

India must capture all segments of financial market to fuel growth: IMF
3 years, 9 months ago

India must capture all segments of financial market to fuel growth: IMF

The Hindu  

India is on the right track and is innovating on the policy side, including on digital identity and payments, but it also needs to capture all the segments of the financial market and institutions to make sure that every piece fits together like a puzzle to fuel growth in the country, according to a top IMF official. “The goal is …

Parliament proceedings | Banks wrote off ₹1.15 lakh cr. in nine months of FY21: Anurag Thakur
3 years, 10 months ago

Parliament proceedings | Banks wrote off ₹1.15 lakh cr. in nine months of FY21: Anurag Thakur

The Hindu  

Banks have written off bad loans to the tune of ₹1.15 lakh crore in the first three-quarters of the current fiscal, the Lok Sabha was informed on March 8. As per RBI guidelines and policy approved by bank boards, non-performing loans, including those in respect of which full provisioning has been made on completion of four years, are removed from …

Policy roll-back may dent banks’ health, says RBI
4 years ago

Policy roll-back may dent banks’ health, says RBI

The Hindu  

In 2020-21, as policy support is rolled back, the impact of the COVID-19 pandemic may dent the health of the banks and non-banks, the Reserve Bank of India said in its Report on Trend and Progress of Banking in India 2019-20. This is a statutory publication in compliance with Section 36 of the Banking Regulation Act, 1949 and this Report …

Explained: Why India's banks will face major NPA challenge in 2021
4 years ago

Explained: Why India's banks will face major NPA challenge in 2021

India Today  

The coronavirus pandemic has had a devastating impact on banks and financial institutions around the world as the global economic crisis has led to a rise in defaults and bad loans. It also expects the Indian banking sector’s bad loans to shoot up to 10-11 per cent of the total loans as on March 31, 22 from eight per cent …

Fixing the banking mess
4 years ago

Fixing the banking mess

India Today  

India’s banking sector is frequently under the spotlight, and usually for unflattering reasons, from an insupportable pileup of loans gone bad to outright fraud to cronyism or worse. If government-owned banks like Punjab National Bank and State Bank of India have embarrassed themselves, names like YES Bank and ICICI Bank in the private sector have also made headlines for the …

Non-performing loans in Indian banking sector to rise in next 12-18 months: S&P
4 years, 1 month ago

Non-performing loans in Indian banking sector to rise in next 12-18 months: S&P

The Hindu  

Non-performing loans in the Indian banking sector is likely to witness an uptick and may shoot up to 11% of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is “masking” problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the proportion of …

Non-performing Loans in Indian Banking Sector to Rise in Next 12-18 Months: S&P
4 years, 1 month ago

Non-performing Loans in Indian Banking Sector to Rise in Next 12-18 Months: S&P

News 18  

Non-performing loans in the Indian banking sector is likely to witness an uptick and may shoot up to 11 per cent of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is ”masking” problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the …

Banks' NPAs in Large Industry, Services Fall 31 per cent in Over Two Years to Rs 4.36 Lakh Crore
4 years, 4 months ago

Banks' NPAs in Large Industry, Services Fall 31 per cent in Over Two Years to Rs 4.36 Lakh Crore

News 18  

Banks' non-performing assets in large industry and services declined 31 per cent in over two years to about Rs 4.36 lakh crore in June this year, Parliament was informed on Monday. "As per Reserve Bank of India data on domestic operations, NPAs of scheduled commercial banks pertaining to large industry and services have come down to Rs 4,36,492 crore as …

A battered IndusInd Bank lays bare RBI’s financial stability challenge
4 years, 9 months ago

A battered IndusInd Bank lays bare RBI’s financial stability challenge

Live Mint  

India’s private sector banks are facing their toughest test yet with a virus outbreak putting their earnings at risk, even as the collapse of a peer bank raises questions on deposits. The bank’s stock dropped 15% on Tuesday after the lender revealed in an investor call that it has lost 10-11% of its deposits since Yes Bank Ltd crumbled earlier …

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions
4 years, 10 months ago

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions

Firstpost  

Recent days have seen RBI governor Shaktikanta Das pulling up public sector banks for poor credit growth even as Kapoor’s Yes Bank shenanigans were simmering in the backdrop. The current crisis in Yes Bank makes for great headlines, with a high-profile founder lending huge amounts to tainted and/or serial borrowers, allegations of political corruption and a general state of injustice …

Indian banks have adequate capital, no reason for worry: CEA
4 years, 10 months ago

Indian banks have adequate capital, no reason for worry: CEA

India TV News  

As the Yes Bank crisis weighs on investor sentiments, becoming a major reason of concern for the bank's depositors, Chief Economic Adviser Krishnamurthy Subramanian on Sunday said there is no reason to worry as India's banks have adequate capital. The CEA said banking sector experts and regulators use CRAR among other metrics to gauge the financial health of banks, and …

Yes Bank crisis | Indian banks well capitalised, no reason to worry: Chief Economic Adviser
4 years, 10 months ago

Yes Bank crisis | Indian banks well capitalised, no reason to worry: Chief Economic Adviser

The Hindu  

In the wake of the moratorium on private sector lender Yes Bank, the RBI clarified on Sunday that deposits of customers were safe. “The RBI closely monitors all the banks and hereby assures all depositors that there is no such concern of safety of their deposits in any bank,” it said. Allaying concerns over the banking sector health, Chief Economic …

Banking on bailouts: The Hindu Editorial on Yes Bank crisis
4 years, 10 months ago

Banking on bailouts: The Hindu Editorial on Yes Bank crisis

The Hindu  

Just one day after it placed the financially troubled Yes Bank under a moratorium, the Reserve Bank of India announced a draft ‘Scheme of Reconstruction’ that entails the State Bank of India investing capital to acquire a 49% stake in the restructured private lender. The alacrity with which the bailout has been proposed is commendable, given that Yes Bank’s stock …

India retail banking a 'nice oasis' for foreign lenders Deutsche, HSBC, peers; easing regulations, surge in online deals drive change
4 years, 10 months ago

India retail banking a 'nice oasis' for foreign lenders Deutsche, HSBC, peers; easing regulations, surge in online deals drive change

Firstpost  

Improved performance in India and its basis in the take-up of digital retail banking services could also offer hope for other large markets with potential far greater than the profit so far delivered, such as China. “With transaction banking going very strong and retail banking picking up pace, a lot of foreign banks globally are now focusing on India and …

Banking sector in India under 'stress', govt not in a position to bail it out, says Abhijit Banerjee
4 years, 11 months ago

Banking sector in India under 'stress', govt not in a position to bail it out, says Abhijit Banerjee

Firstpost  

Speaking to the media on the sidelines of the 13th Jaipur Literature Festival, Abhijit Banerjee said the demand slowdown in the automobile sector also shows that people are lacking confidence in the economy Jaipur: Nobel laureate and economist Abhijit Banerjee on Sunday said the banking sector in the country was “stressed” and that the government was in no position to …

In 2020, muted credit growth, not bad loans, will be banks’ main concern; a lot will depend on early economic rebound
5 years ago

In 2020, muted credit growth, not bad loans, will be banks’ main concern; a lot will depend on early economic rebound

Firstpost  

In the first seven months of the current financial year, the credit growth to large industries contracted by 3.4 percent as against a growth of 0.2 percent in the year-ago period. The gross NPA ratio of banks, which stood at 9.3 percent of the total loans in March 2019 could rise to close to 10 percent in September 2020, according …

India's financial system stable despite weakening economic growth, says RBI
5 years ago

India's financial system stable despite weakening economic growth, says RBI

India Today  

India's financial system remains stable even after economic growth plummeted to a six-year low, the Reserve Bank of India said on Friday. "Reviving the twin engines of consumption and investment while being vigilant about spillovers from global financial markets remains a critical challenge going forward," the central bank said in its bi-annual Financial Stability Report released on Dec. 27. State-owned …

Banking sector net NPA may improve to 3.2pc by March-end, says report
5 years ago

Banking sector net NPA may improve to 3.2pc by March-end, says report

India TV News  

Aided by better recoveries and declining slippages, overall net non-performing assets of the banking sector are likely to improve to 3.2-3.3 per cent by the end this fiscal from 3.7 per cent in September 2019, says a report. The rating agency said the decline in net NPAs will improve the solvency profile of banks, with core equity bettering to around …

Key policy steps taken by NDA govt this year to revive a sagging economy
5 years ago

Key policy steps taken by NDA govt this year to revive a sagging economy

Business Standard  

There is little doubt that the Indian economy is going through a rough patch, earning the government a great deal of flak. On August 23, she announced an upfront capital infusion of Rs 70,000 crore into public sector banks in a move aimed at generating additional lending capacity and liquidity in the financial system to the extent of Rs 5 …

Why Ridham Desai of Morgan Stanley likes banking stocks
5 years, 1 month ago

Why Ridham Desai of Morgan Stanley likes banking stocks

Live Mint  

India’s banking sector may witness a turnaround, after recent rule changes put banks in a better position to get their money back from insolvent companies, according to Ridham Desai, managing director at Morgan Stanley India Co. A Supreme Court ruling last week not only paved the way for ArcelorMittal’s purchase of Essar Steel India Ltd., an Indian steel mill, but …

Economic slowdown: Manufactured crisis
5 years, 2 months ago

Economic slowdown: Manufactured crisis

The Hindu  

ALL observers—the government, the corporate sector and independent analysts—are unanimous that the Indian economy has been on a downswing. That the gross domestic product growth rate in the first quarter of 2019-20 fell drastically to 5 per cent made a big splash in the news and made the Central government grudgingly accept the problem. The objective of this paper is …

Can tech solve for all things wrong in Indian banking sector?
5 years, 2 months ago

Can tech solve for all things wrong in Indian banking sector?

Live Mint  

“In future, banks will become technology companies with a banking licence” proclaimed Ravneet Gill, chief executive of Yes Bank, amid news that the private sector lender is close to securing fresh capital from investors, including a technology company – a non-conventional investor in banking space. In his statement, Gill, hinted at the popular trend of 'future of banking’, with banks …

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