India: special focus

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A new government could herald a more lucrative time in India. Below is Euromoney's recent coverage of macroeconomic, FX, fixed income and equity market trends in the Asian powerhouse.

Bric: special focus

Emerging markets: special focus

Modi’s demonetization catches India on the hop
December 2016
Scrapping large-tender notes sparks panic; 'black economy’ crackdown prompts cash squeeze.

China and India: A tale of two New York IPOs
November 2016

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ZTO Express underlines US affection for ambitious Chinese firms; Azure Power shows how much farther India’s have to go.

Subramanian’s brief moment of online passion
November 2016
Pity Arvind Subramanian – he has a tough enough job as it is as chief economic adviser to the government of India without further distraction.

India’s resurgent IPO market banks on insurance
October 2016
ICICI Prudential Life reinvigorates IPOs; slew of smaller listings ready to follow.

Financial inclusion: Biometric banking and the $600 billion opportunity
September 2016
An extraordinary revolution is taking place in digital banking in India. Driven by the state, it is anchored on a billion-strong biometric database to finally bring financial inclusion to a country that needs it more than any other. Banks may face a binary outcome: be quick or be dead.

Understanding India’s push into biometrics

September 2016
From Aadhaar to iSPIRT – your guide to Indian biometrics.

How financial inclusion will change the face of banking
September 2016
Technology is finally bringing banking services to the unbanked in both developing and developed markets. While technology companies are driving this transformational shift, it looks increasingly likely that traditional banks will ultimately be service providers. They have everything to gain if they can form partnerships and create a long-term strategy.

Asia: Bhattacharya stakes her reputation on transforming State Bank of India
September 2016
Arundhati Bhattacharya already had one of the toughest jobs in India as chairman of State Bank of India. Not only is it the country’s largest financial institution, but it is also woven inextricably into India’s social fabric. She has made her job harder still by proposing a seven-sided bank merger. But as technological innovation increases and as asset quality plunges across public banks, bigger may not necessarily be better.

Asia: State Bank of India – communicating to the masses and turning to tech
September 2016
Arundhati Bhattacharya is an SBI veteran: she joined in 1977.

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Asia: Driven Kapoor breaks the mould
August 2016
Yes Bank, started just 12 years ago, is one of India’s fastest growing lenders – and the most interesting by far. Its founder and CEO sits down with Euromoney to discuss risk management, cost cutting, divine intervention and why he doesn’t do the 'wow’ factor.

Reserve Bank of India: Why did Rajan go?
August 2016
All eyes are on the expected appointment of a new Reserve Bank of India governor, but nobody is quite clear why there needs to be a new one.

Masala debut at last
August 2016
HDFC launches first corporate masala bond; others may be slow to follow.

Country risk: India takes a rain check, but it’s no monsoon 
May 2016 
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Its sovereign risk score has eased back this year as doubts begin to creep in, but India remains worthy of investment grade.

India: DBS's digibank launch brings in biometric banking
April 2016 
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DBS’s launch of a new digital bank in India provides a test case for a branchless model of banking in Asia that will influence a dozen other markets in the years ahead.

India: Globalizing the rupee
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March 2016 
China is well on the way to creating a global currency, with a little help from the IMF. But what of India, the other economy set to dominate the 21st century? Will the rupee come to rival the renminbi and the dollar, or will poor planning and weak infrastructure undermine its ambitions?

Private banking: Ways to win with India’s wealthy
February 2016
India has been a tough market for global wealth managers, ground down by rising costs and regulation. But private wealth is growing fast, offering long-term profit for those with patience and persistence.

Indian IPOs: back in vogue, for now
December 2015
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ECM re-emerges from lengthy slump; foreign investors jump on slew of mid-sized IPOs.

Country risk: Hungary, India and Thailand among EMs resilient to shocks
November 2015
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"Income shocks have been the name of the game for emerging Asia in 2016. Not everybody has suffered. India is the big winner."

India: Rajan reveals Masala bond rules
November 2015
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Annual cap of $750 million, five-year maturity; corporates, real estate and investment trusts can issue.

Country risk survey results Q3 2015 dominated by China’s jitters, Brazilian crisis and EM capital shock
October 2015
India’s prospects stand out among the larger EMs as one of the fastest-growing economies worldwide.

Euromoney Country Risk survey results H1 2015: In search of safe havens with Greece on the brink
July 2015
Although India lags China in terms of its economic development, and is vulnerable to shifting market sentiment, its growth is expected to be stronger than China’s, and its external risks have eased.

Country risk expert insight – Q1 results: India
July 2015
The results of the latest Euromoney Country Risk quarterly survey saw India’s risk score rise 0.61 points. Year-on-year, the score is up by an impressive 2.72 points. With a score of 52.74, the country sits at 56 in the global ECR rankings. ECR asked two experts for their opinions on the reasons behind the improvement.

Indian ECM volumes set to rise, while fees stay low
March 2015
A number of eye-catching deals in the Indian market in 2015 are creating excitement for bankers about the potential pipeline of deals this year.

Dark clouds still loom over India IPOs
November 2014
The feelgood factor from the election of Narendra Modi as prime minister does not seem to be translating into better fees for IPO bankers – yet.

Rajan’s surgical strikes
October 2014
Reserve Bank of India governor Raghuram Rajan is battling inflation and crony capitalists to open a new chapter in the Asian superpower’s growth story. Rajan – Euromoney’s central bank governor of the year 2014 – reveals his blueprint for reforms and issues a stark warning about the cracks in the global economy.

Central bank governor of the year 2014: Rajan emerges unscathed from Indian baptism of fire
October 2014
Reserve Bank of India governor Raghuram Rajan’s tough monetary medicine combatted the storm ravaging the deficit-ridden economy in the recent emerging market crisis. Now, he is battling vested interests to arouse a sleepy financial system for over one billion people.

RBI’s Rajan sounds alarm over breakdown in global coordination
October 2014
A lack of international monetary policy coordination and efforts to beef up the IMF to reflect the newfound clout of emerging markets (EMs) raises the risks of trade protectionism and market volatility, Reserve Bank of India (RBI) governor Raghuram Rajan tells Euromoney.

Modi makeover ignites India’s banking leaders
September 2014
In exclusive interviews, leaders of Indian finance reveal how banks, nursing wounds from the recent credit boom, should be set free from the shackles of state control, as reformists raise hopes of a new dawn for Indian capitalism. A jolt, not a tweak, to the financial system is desperately needed.

India: Waiting game continues for foreign investment banks
September 2014
Even in a bullish scenario where a Rajan-Modi dream team unleashes reforms – from PSL to the bond market – in an economic super-cycle that sees public lenders recapitalized, foreign investment banks could still be chasing rainbows in India. It is an over-banked market, with dozens of fee-hungry institutions jockeying for business.

Unchain Indian finance
September 2014
India needs a litany of reforms to unshackle its stalled capitalist project. Modi’s government should take inspiration from the paradox of Singapore’s activist state and strong private sector.

Brics bank: requiem for a dream
September 2014

Incensed by their failure to reform, Brics policymakers have established a flawed rival to the World Bank and IMF. Rhetoric aside, the west dismisses emerging-market dissent over the broken financial architecture at its peril.