India

Private equity was once a peripheral pursuit in the country – no longer. With many of India’s big companies deep in debt, immersed in bankruptcy proceedings or cut off from bank funding – or all of the above – buyout firms are rushing to fill the void.

The country’s fintech sector has enormous potential, but it is being hobbled by a host of factors, from inconsistent regulations to a damaging credit crunch affecting local non-bank finance companies.

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The 29th annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, insurance companies, pension funds, sovereign wealth funds, hedge funds and wealth managers from around the world. A total of 6,540 valid individual responses from 3,100 different institutions, including 411 hedge funds, were received.

In both China and India, winning approval to sell offshore bonds can be a torment. One regulator applies the rules punctiliously, the other seemingly without rhyme or reason. It’s a wonder issuers can sell so much.

Just when everyone thought India’s state-owned banks were on the path to recovery, a $2 billion fraud at Punjab National Bank has knocked confidence in the whole sector and cast doubts on the government’s ambitious efforts to sort out these ailing lenders once and for all.

Bankers at Edelweiss Private Wealth Management have plenty of tricks up their sleeves to expand their business and win over clients – tricks that are working well.

When Asiamoney asked a handful of senior bankers at domestic firms in India to suggest the best international bank in the country, their response was almost unanimous. When Asiamoney posed the same question to international banks in India, they didn’t mince their words either. Citi dominates the Indian market among international banks.