Latest articles from India

India cracks the combination for growth

May 2, 2005

The coalition government of Manmohan Singh is determined to transform India. Karina Robinson reports from New Delhi on the progress so far.
The measured interventions in the Lower House of India’s Parliament had come to an end. The wood-panelled chamber of the Lok Sabha slid into orchestrated chaos as the opposition benches emptied and its gesticulating members surrounded the speaker, enthroned in his chair.
Dressed in saris, white dhotis, turbans and Western-style trousers and shirts, the parliamentarians raised their voices about a crisis in the Jharkhand state Parliament.

HSBC seeks small fry to land big profits

April 4, 2005

HSBC in India is preparing for an expected boom in the SME sector by targeting smaller businesses that have growth potential. Kala Rao reports from Mumbai.
No customer is too small for HSBC, says Subir Mehra, who heads the bank’s small and medium-sized enterprise (SME) business in India. That is what prompted it to mine its retail banking customers in India, looking for small businesses that are poised to grow dramatically in a fast-expanding economy.

Regulation change puts India’s foreign banks on a short leash

April 4, 2005

New regulations for foreign banks in India have ended hopes of unrestrained growth in the expanding retail finance market. Foreign banks cannot acquire a local private bank except in the case of a weak bank, identified by the regulator. Additionally, local subsidiaries set up by foreign banks will not be able to open branches freely.
These restrictions will stay in place until 2009, when fuller deregulation is expected, including allowing market acquisitions of local private banks.

India’s IT outsourcers

March 7, 2005

Despite concerns over data fraud, communication problems and a backlash from western countries, India is still a prime destination for banks to outsource their business processes, writes Kala Rao.

Chanda Kochhar

February 2, 2005

executive director, ICICI Bank
When Chanda Kochhar was picked four years ago to spearhead the thrust into retail banking at ICICI Bank – India’s second largest bank – sceptics doubted her ability to play hardball in a tough business. Ms Kochhar, 43, proved them wrong.

India relaxes private bank investment rules

January 3, 2005

Foreign investors will be allowed to acquire up to 74% of private Indian banks, up from 49%, India’s finance minister, Palaniappan Chidambaram, announced in early December. This clears up doubt over whether foreign investors could participate in the consolidation of the fragmented private banking sector.

The rural take on banking tech

December 1, 2004

KV Kamath of ICICI tells Karina Robinson why the bank’s strategy for technology dovetails perfectly with its plans to expand in rural India.

Meelivitayil Damodaran

October 4, 2004

Chairman and Managing Director, Industrial Development Bank of India

Deepak Parekh

October 4, 2004

Executive Chairman, Housing Development Finance Corporation

K Vaman Kamath

October 4, 2004

Managing Director and CEO, ICICI Bank

The Banker on Twitter