Banking news in India

An overview of news, trends and research in the Banking industry in India:

Reserve Bank of India selects McKinsey and Accenture for AI project The Reserve Bank of India has following a competitive bidding process selected McKinsey & Company and Accenture as its partner for an artificial intelligence project.
12 August 2023
Digital payments sector in India to reach $10 trillion by 2026 India’s sector for digital payments could increase dramatically from $3 trillion in 2022 to $10 trillion in 2026.
13 April 2023
State Bank of India launches consultancy RFP for employee surveys The State Bank of India is in the process of engaging a consulting firm to help conduct an employee engagement survey across the bank’s entire operation.
13 April 2023
Cedar and IBSi to host Digital Banking Summit in Mumbai Next month, an international event hosted by Cedar Management Consulting and IBS Intelligence will inform industry leaders on the future of banking across India.
03 March 2023
Bain & Company launches NPS Prism for Banking in Indian market Six months after bringing its NPS Prism for Banking suite to Asia, global management consulting powerhouse Bain & Company has now rolled out its banking specific offering in the Indian market.
08 November 2021
India's $550 billion shared credit market ripe for digital disruption Sharing money with friends and family is a bedrock of Indian society, although financial services providers have struggled to monetise this activity.
02 August 2021
Federal Bank enlists Infosys for Oracle CX implementation Kerala-headquartered commercial bank Federal has tapped Infosys to implement Oracle CX – a cloud-based customer relationship management tool – to boost its marketing, sales and customer experience, a
14 June 2021
Indian banks risk Rs 12 trillion Covid-19 hit, says McKinsey Although resilient in the face of Covid-19, banks in India will have to withstand trillions in credit and revenue losses for this year, and a few more to come.
05 January 2021
A strategic agenda for Indian banks in the post-Covid world Indian banks are at risk of losing hard-won efficiency gains and should quickly rework how they operate to tackle new challenges, write Akash Lal, Alok Kshirsagar, Siddhartha Gupta and Shikha Gupta f
14 December 2020
Former EY partner Charanjit Attra joins SBI as CFO A banking sector veteran, Charanjit Surinder Singh Attra has been an EY partner for the last five years, and will now take over as chief financial officer at India’s largest creditor – State Bank of
27 October 2020
State Bank of India on the hunt for risk management consultants The State Bank of India (SBI) is moving to transform its risk management vertical, and has put out a request for proposal (RFP) to the consulting industry for support.
07 July 2020
PwC's financial services lead John Garvey on India's banking sector Rising proportions of non-performing loans (NPLs), an increasingly pervasive credit crunch and complex restructuring processes are the primary challenges currently facing India’s banking sector.
05 February 2020
EY appointed to manage merger of three major banks EY has been called in to help with the mammoth task of merging three major Indian banks – Punjab National Bank, Oriental Bank of Commerce, and United Bank of India.
22 January 2020
The burgeoning market of microfinance in India Microfinance portfolios in India have grown at a compound annual growth rate of 48% over the last half a decade, driven by favourable policy changes and increased involvement from various financial institutions.
12 January 2020
Home Credit turns to Indigo Consulting to support with India expansion Digital marketing consultancy Indigo Consulting has been awarded the contract to boost the profile of global consumer finance company Home Credit in India.
10 July 2019
TCS' cloud-first BaNCS platform to be available on Amazon Web Services In order to improve the speed, convenience and reach of its key Software as a Service (SaaS) platform, IT services giant TCS has announced that it will now offer TCS BaNCS Cloud on the global Amazon
15 February 2019
Indian NBFCs need to evolve in line with contemporary market trends Despite an expanding market across India for non-banking financial companies (NBFCs), the number of NBFCs in the country has declined sharply over the last few years, primarily due to dominance of th
19 November 2018
RBI shortlists five top IT services firms for CIMS implementation Tata Consultancy Services, Infosys, IBM India and Capgemini are four of the five IT services firms shortlisted by the Reserve Bank of India to support with the implementation of a centralised informa
27 September 2018
The industries that draw the most gross bank credit in India Ten industries make up 90% of the credit on offer for the industry division in India’s banking sector, according to a new report from global professional services firm PwC.
03 September 2018
Korn Ferry and Egon Zehnder to develop leadership strategy for public sector banks In light of a struggling banking sector, the Banks Board Bureau in India is looking to develop comprehensive management strategies for senior leadership at public-sector banks, and has appointed the
15 August 2018
India's digital lending volume could be $1 trillion over the next five years The lending market in India remains relatively untapped, and the development of this domain happens to coincide with the rapid digitalisation of the country, which, according to management consultanc
06 August 2018
Macroeconomic and global trends affecting India's ATM industry A new report from global professional services firm PwC has revealed that the ATM industry in India has been a steadily lucrative one over the years.
23 July 2018
Infosys collaborates with seven banks to create blockchain-based trade network In light of high levels of fraud and a vast repository of non-performing assets, Infosys has established a collaborative network within the Indian banking sector, which will promote greater security
18 May 2018
India's government needs a vision for the future of banking sector The Indian government would benefit from a clear vision for the future of India’s banking sector, write David Bergeron, Amit Deshpande and Wolfram Hedrich, all three senior advisors at management con
14 February 2018
India announces intent to prevent cryptocurrency use The Government of India has announced it will move to end the use of cryptocurrencies in the country.
02 February 2018
BCG supports Karnataka Bank with business transformation In a bid to tackle market disruption and keep pace with trends in the banking and finance industry, Karnataka Bank has embarked on a transformation journey, with a focus on modernisation.
12 December 2017
Indian banking reforms not ambitious enough, says Bain India Chairman Despite the expansive economic reforms introduced by Prime Minister Modi, Bain & Company Chairman Srivatsan Rajan feels that the banking sector in India, is holding up the economy.
14 November 2017
Government backed IDBI Bank hires BCG for organisational turnaround In a bid to reverse its declining fortunes, IDBI Bank has partnered with the Boston Consulting Group (BCG) to help boost its financial performance.
11 October 2017
Creditors in India hire consultants for bankruptcy proceedings Creditors in India, including the country’s biggest lender State Bank of India (SBI) have hired top consultancy firms such as PwC, KPMG, EY, Deloitte and others at highly generous terms to assist wit
13 July 2017
Infosys launches Fintech solutions for Indian banks Infosys Finacle, part of EdgeVerve Systems, has launched a tailored suit of banking solutions for the Indian market.
01 August 2015
Accenture is helping an Indian bank with strategic transformation Accenture has won a large transformation contract with United Bank of India (UBI).
22 June 2012

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