India

The Asiamoney award for the best digital bank in India was a hotly contested one. Since prime minister Narendra Modi’s unexpected demonetization announcement in November 2016, banks have been pushing out their digital agendas opportunistically, as a large part of the population, along with thousands of businesses, was forced to go cashless.

In a country like India that boasts millions of micro, small and medium-sized enterprises (MSMEs), catering to their financial needs is critical, especially as SMEs contribute about 45% of India’s industrial output and employ as many as 42 million people.

Corporate social responsibility has always been ingrained in State Bank of India’s ethos. It goes as far back as 1973 when the idea of CSR was introduced by the firm as ‘innovative banking’, a way to focus on the economic development of the underprivileged in society through non-banking activities.

Kotak Mahindra Bank has a reputation in India for being almost infallible. Rival bankers hold the bank in high regard, especially for its business acumen, leadership, governance and deal-making ability.

Kotak Mahindra Bank has a reputation in India for being almost infallible. Rival bankers hold the bank in high regard, especially for its business acumen, leadership, governance and deal-making ability.

Domestic banks say that even if foreign rivals haven’t given up the ghost already, they face a tough future in India. International banks see a brighter future beyond meagre fees as Indian markets mature. They can’t both be right.

In an exclusive interview, Baroda chief executive PS Jayakumar admits failings in the bank’s South African operations, but denies institutional wrongdoing.

India

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