Country risk: India’s Covid-19 hit may turn it to junk
Risk analysts have south Asian borrowers in their sights, after Sri Lanka’s downgraded credit rating from S&P this week.
Euromoney's latest coverage of macroeconomic, FX, fixed income and equity market trends in the Asian powerhouse.
Risk analysts have south Asian borrowers in their sights, after Sri Lanka’s downgraded credit rating from S&P this week.
India's national ID and financial inclusion system creates the rails on which food and financial aid can reach some of the most vulnerable in society.
The financial industry has been a mess, hit by defaults, rising bad loans, corporate governance scandals, frauds and, most recently, the government rescue of Yes Bank - the worst may be over, but things aren’t tidy yet.
The spectacular collapse of a fast-growing private lender in early March has dealt yet another blow to India’s already shaky finance industry, led to the arrest of its founder and thrown a spotlight on the bank’s aggressive lending practices.
Corporate treasurers are doing everything they can to keep businesses running as smoothly as possible during these challenging times.
Mindspace hopes to raise more than $150 million in IPO slated for the end of March; more Reit sales to follow in Mumbai during the next 18 months.
The country’s Supreme Court overturns a curveball decision from July, to the benefit of distressed debt investors.
The country’s risk score is proving quite resilient, despite the softening GDP growth outlook and tensions with Pakistan over Jammu and Kashmir.
It was a bold call to launch a specialist credit business in Asia in 2009, but SC Lowy celebrates its 10th birthday as an established figure in distressed debt and high yield not just at home but also increasingly in Europe.
To reduce greenhouse gas emissions, clean up water supplies, prevent the loss of biodiversity, mitigate fire and flood risk and meet the nutritional requirements of a growing population the world must improve its regenerative and sustainable agricultural practices – new tools and support from the financial services industry are needed to fund that transition.
SBI is reshaping India's financial system, continuing to act as the bedrock of local banking life while delivering a profit to shareholders.
Seizing opportunities and doing the tough things well has made Kotak Mahindra Bank a leading actor in shaping Asia's financial institutions.
The past decade has not been a happy time for a financial institution once instinctively viewed by many as India’s best-managed private bank; and as for the future… those involved have to keep their nerve.
The government has done an about-turn on its plans to introduce higher taxes on foreign portfolio investors as it finds ways to boost the equities market.
Some uncomfortable conclusions arise from a close look at Euromoney’s country risk data for Asia since 1982.
Introduction of the GST and demonetization mean Jaitley had a far bigger impact on Indian finance than his single term as minister would suggest.
The insolvency and bankruptcy code is supposed to do wonderful things for India, but a leftfield decision on creditors this week will have a number of unhelpful side-effects.
As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our May Asia focus..
As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our May Asia focus.
RBL Bank has been transformed over the last decade, from parochial local lender to a second-tier bank with genuine national scale.
Private equity was once a peripheral pursuit in the country – no longer.
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.
The argument that India will be the first cashless society doesn’t take into account the country’s most vulnerable people and the cultural attachment to cash.
Asia’s stronger performance over Latin America enters a fifth year, with a lower risk quotient in Euromoney’s crowd-sourcing survey.
India’s first real estate investment trust is being fast-tracked to IPO before the end of February.
After a few years of underperformance, India’s property market is back on form.
The problem with India’s state bank mergers.
The country is defying global uncertainty and market turmoil in the lead-up to elections in 2019, with the country in a stronger position now to withstand the prospect of BJP falling.
In both China and India, winning approval to sell offshore bonds can be a torment.
SBI head outlines path to asset resolution; says sector still shocked by PNB fraud.
Reserve Bank of India (RBI) governor Urjit Patel took to the stage at Gujarat National Law University on March 14 to make a simple request...
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.
Domestic banks say that even if foreign rivals haven’t given up the ghost already, they face a tough future in India.
In an exclusive interview, Baroda chief executive PS Jayakumar admits failings in the bank’s South African operations, but denies institutional wrongdoing.
India threatens cryptocurrency crackdown; Ripple argues it has a remittance model.
CEO has broader ambitions as firm turns 10; impact investing still modest in Asia but growing.
For the banking industry, 2017 was a time of trying finally to resolve issues of the past and avoid new mistakes, yet dig beneath the surface and it was also 12 months of intrigue and, sometimes, farce.
Arundhati Bhattacharya left big shoes to fill as chair of State Bank of India, but Rajnish Kumar’s arrival has coincided with a handy recapitalization of public sector banks that will help him achieve his main aim.
India receives global attention for its digital innovation as a tool of financial inclusion, but it couldn’t get off the ground without a unique non-profit institution charged with creating the infrastructure.
News broke last week of an intriguing insolvency petition in India: under the new Insolvency and Bankruptcy Code, high-profile disputes are now commonplace, but what’s interesting here is it pits a Chinese policy bank against an Indian private-sector corporation.
Recapitalization bonds will repair balance sheets; next step will be writing off bad loans
India’s biggest fintech has doubled its user base in a year and is on track to have 500 million customers by 2020.
Asia’s disparate markets and economies have found common ground in the widespread adoption of digital technology.
Singaporean bank adds to Indian franchise, but profitability of new ventures remains some way off.
Euromoney’s latest Country Risk Survey shows a gradual rebalancing of risk scores this year, as the aftershocks of the global banking and sovereign debt crises wear off, political risks tied to the European electoral cycle fade, and capital access improves for EMs.
Bedding down a six-sided merger domestically; international activity to be 20% of total book in three years.
Whip-smart M&A boutiques and upstart full-service investment banks are making waves in India, profiting from the retreat of global investment banks.
Senior bankers hail acceleration of digitization; impact felt across financial services industry.
November 8, 2016, will go down in history as the day Donald Trump, a real estate mogul and reality TV host, was elected the 45th president of the United States and leader of the free world – but, in India, it marks a perhaps equally surreal event: demonetization.
If this was supposed to be the century of the woman, no one thought to tell the international banking community.
Ashish Kumar Chauhan transformed Indian broking not once but twice, co-founding the National Stock Exchange before jumping ship and joining its rival, the Bombay Stock Exchange, which has just completed its IPO.
The OECD’s arguments in favour of a higher credit rating are endorsed by experts taking part in Euromoney’s country risk survey.
Scrapping large-tender notes sparks panic; ‘black economy’ crackdown prompts cash squeeze.
Pity Arvind Subramanian – he has a tough enough job as it is as chief economic adviser to the government of India without further distraction.
ICICI Prudential Life reinvigorates IPOs; slew of smaller listings ready to follow.
Arundhati Bhattacharya is an SBI veteran: she joined in 1977.
Arundhati Bhattacharya already had one of the toughest jobs in India as chairman of State Bank of India.
From Aadhaar to iSPIRT – your guide to Indian biometrics.
An extraordinary revolution is taking place in digital banking in India.
Technology is finally bringing banking services to the unbanked in both developing and developed markets.
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.
Yes Bank, started just 12 years ago, is one of India’s fastest growing lenders – and the most interesting by far.
HDFC launches first corporate masala bond; others may be slow to follow.
Asian banks are increasingly proving themselves to be much more than just volume-hungry lenders.
Its sovereign risk score has eased back this year as doubts begin to creep in, but India remains worthy of investment grade.
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.
China is well on the way to creating a global currency, with a little help from the IMF.
India has been a tough market for global wealth managers, ground down by rising costs and regulation.
ECM re-emerges from lengthy slump; foreign investors jump on slew of mid-sized IPOs.
As sovereigns from Brazil and China to Malaysia and Mexico bomb, the search is on for increased safety for emerging market (EM) investors.
Annual cap of $750 million, five-year maturity; corporates, real estate and investment trusts can issue.
China’s risk score fell 1.5 points, to below 60 out of 100, for the first time in almost two years in Q3 2015.
The latest quarterly round-up from Euromoney’s crowd-sourcing country risk survey – a unique poll of more than 440 expert participants – shows no fewer than 80 of the world’s 186 sovereigns becoming riskier during the first half of 2015.
The results of the latest Euromoney Country Risk quarterly survey saw India’s risk score rise 0.61 points.
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.
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.
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.
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.
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.
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.
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.
India needs a litany of reforms to unshackle its stalled capitalist project.
Incensed by their failure to reform, Brics policymakers have established a flawed rival to the World Bank and IMF.
The economic ties between the UAE and India have gone from strength to strength in recent years and are set to deepen further.
The sovereign’s fortunes are still improving since the sell-off last year sent the rupee spiralling downwards.
The world’s biggest democracy saw its risk score improve in the lead up to the elections, which might be the start of an upward trend.
A new government could herald a more lucrative time for investment bankers in India
After the rupee’s spirited rally in line with the ascent of newly installed Indian prime minister Narendra Modi, analysts say rising US yields could undercut the currency, while others claim strong equity inflows and an improvement in the current account suggest appreciation for the rest of the year.
International companies are less likely to invest in India than Iran due to the seemingly more onerous regulatory and tax regime of the world’s largest democracy, according to a pulse survey conducted by Euromoney.
Treasury professionals of companies with combined annual sales of more than $250 billion have voted China, India and Russia as the worst countries to repatriate company funds from, according to Euromoney’s ‘trapped cash’ pulse survey.
Brazil, India, Indonesia, South Africa and Turkey have more in common than macroeconomic numbers.
Although market players discern substantial differences between the fragile-five economies – notably in their current-account profiles – they remain, as a group, especially vulnerable to domestic and international market shocks, says bearish analysts.
Emerging-market assets have fallen thanks to domestic policy risks, rather than Fed-tapering fears, triggering market contagion, as Turkey and Argentina lurched into crisis mode.
Oil and gold imports problematic for reserves; The worst-performing EM currency this year
It has been a horrible few months for emerging market (EM) currencies, with foreign exchange investors looking to exit a broad range of exposures from Brazil to Indonesia.
The Indian rupee is likely to remain under pressure despite central bank efforts to slash spot dollar demand, including lending dollars from its reserves to state-run oil companies, but analysts are split over its prospects for the rest of the year.
India’s ECR score hits a three-year low as spiking inflation and a plunging rupee exact a heavy economic toll at a time of fragile growth.
Analysts upbeat; fiscal commitment impresses.