India had a fascinating experiment with demonetisation. It was an attempt to bring the dark money to the surface and increase tax compliance and e-settlements.
"In 2014-15, we were on a par with the industry. We narrowed the gap in the past two years. We grew at 38% vs industry growth of 8%."
It is very difficult to compete with domestic players, so we have to offer a complementary service to what they can do. India requires long-term commitment, says Dierckx
A currency’s prime drivers – inflation and current account deficit, the excess of imports over exports – are an indication how far the nation has come.
One of the reasons peddled for a 10% IPO was that investors can't digest big issues of 25%. How the same community gets appetite after 3 years is a mystery.
It's very difficult to provide services like free ATMs, cheque books and chargeless cash handling. How much do Indian banks earn after all, asks Aditya Puri.
“We are not here to charge usury costs, let us be very clear. As you go higher up on the type of product, it is perfectly reasonable to charge," he said.
A surge in recent defaults was contributed by companies which had loans restructured by the Corporate Debt Restructuring cell.
Consolidation may happen in 3 different segments of Indian banking – state-owned, privately managed, and the old private sector community-dominated banks.
"We have not been approached by anyone, so I don't know where all these stories are coming from. There is absolutely no truth to this," she says.
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