BANKING

According to Counterpoint, the share of credit-based purchases of smartphones increased. Sales growth of apparel, footwear, beauty products, and quick service restaurants halved in 2023. Cars and electronics recorded growth mostly in the premium segment.

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BANKING

Advent International believes that Indian valuations are not a barrier to making deals, as they are relative to growth opportunities and risk returns. The firm views the premium valuations in India as a reflection of the significant growth opportunities and the relative attractiveness of the market. Last year alone, it invested $7 billion in new opportunities ranging from cybersecurity to pharma, but more importantly, realised $8.4 billion via exits — higher than their previous five-year average of $5.7 billion.

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BANKING

Banks are urging for incentives, such as relaxed norms on risk-weighted assets (RWA) and cash reserve ratio (CRR), for sustainability-linked loans. These loans tie interest rates to a company's sustainability performance, promoting adherence to environmental, social, and governance (ESG) norms. Discussions with stakeholders, including the RBI, are ongoing, with proposals to include green financing in priority sectors like electric vehicles (EVs) and renewable energy.

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BANKING

"No other bank has such a complete range of products addressed to the SME segment as HDFC Bank," said Vidya Pradeep, executive vice-president, credit and debit card portfolio, HDFC Bank. She also said that the bank will soon be launching GIGA business card catering to freelancers and gig workers.

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BANKING

It will acquire the remaining 49 per cent over a period of two years, subject to completion of certain conditions, according to a regulatory filing.

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BANKING

The four lenders include Punjab National Bank (PNB), which is targeting a follow-on public offer (FPO) by September, and Central Bank of India, which is seeking approval for an offer for sale (OFS) to expand public float, the people said.

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BANKING

Oka will take charge of steering ADB operations in India and fostering relations with the government and the country's other development partners, ADB said in a statement. She will lead the implementation of ADB's country partnership strategy, 2023-2027 that is designed to catalyse robust, climate-resilient, and inclusive private sector-led growth in India, it said.

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