Business Today

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Golden Period for India’s Banks

Business Today

READY FOR TAKE-OFF

CREDITABLE PERFORMANCE • INDIAN BANKS HAVE PERFORMED EXCEPTIONALLY WELL IN RECENT YEARS, WITH THEIR COMBINED NET PROFIT REACHING AN ALL-TIME HIGH OF MORE THAN ₹3 LAKH CRORE IN FY24. THEIR STRONG PERFORMANCE IS EVIDENT IN THEIR ACTIONS: THEY NO LONGER APPROACH THE GOVERNMENT WITH REQUESTS FOR RECAPITALISATION. LET’S TAKE A LOOK AT THE STATE OF THE INDIAN BANKING SECTOR:

MINT FRESH • Sanjay Malhotra, the new RBI Governor, brings a fresh pair of eyes to the ongoing growth versus inflation debate

War Paint • Birla Opus Paints’ big-bang entry has already started hurting the incumbents. Analysts warn that smaller players may be impacted the most

Heading for the Exit • As the competition intensifies in India’s paint industry, Dutch firm AkzoNobel is looking to become a minor partner to an established player

“India’s role in tech, particularly in AI, to be pivotal” • Hemant Taneja, CEO of General Catalyst, on the emerging opportunities in India, the investment firm’s future path, and more

AT A CROSSROADS • BANKS ARE FACING CHALLENGES ON BOTH SIDES OF THE BALANCE SHEET—ASSETS AS WELL AS LIABILITIES—WHICH ARE PUTTING PRESSURE ON MARGINS. THE 29TH BT-KPMG SURVEY OF INDIA’S BEST BANKS AND NBFCs CELEBRATES INSTITUTIONS THAT HAVE THRIVED AND EXCELLED DESPITE THESE CHALLENGES

FROM CRISIS TO TRIUMPH • Dinesh Kumar Khara stewarded SBI through multiple challenges during his tenure, while ensuring that profits tripled, productivity soared, and the bank consolidated its global standing

THE OUTLIER • ICICI Bank is effecting a cultural shift to win over more customers. With a focus on service excellence and valuedriven engagement, the strategy is delivering impressive results

EXPANSIVE VISION • Bajaj Finance, an outlier in terms of digitisation, faces stiff competition. But it continues to expand its reach

MAHA GROWTH • With its sharp focus on maintaining asset quality, Bank of Maharashtra has once again emerged as the Best Mid-sized Indian Bank in the BT-KPMG Survey of India’s Best Banks and NBFCs

BIG ON INDIA • From assisting in big-ticket IPOs to focussing on mid-cap firms, J.P. Morgan India is looking to deepen its engagement in India

‘Indian banks in a very strong, position’ • Kaustubh Kulkarni, Senior Country Officer-India and Vice Chairman-Asia Pacific, J.P. Morgan, on India’s economy and more

SMALL WONDER • With a strategic push towards low-cost deposits, this small bank is betting on the lucrative retail and MSME segments

LITTLE MASTER • For the second consecutive year, Ujjivan has won the Best Small Finance Bank award for its resilience in navigating sector stress

DIGITAL EDGE • SBI, through its DigiGOV platform, is streamlining the government’s financial transactions

DRIVING UP TALENT • Axis Bank has cracked the code in finding the right talent with suitable skill sets

EMPOWERING CUSTOMERS • Customer-centric solutions, robust compliance mechanisms make Aditya Birla Capital a leader

INVESTING IN EMPLOYEES • For Mahindra & Mahindra Financial Services, the path to excellence has been investing in their employees

POCKET ROCKET • MobiKwik has emerged as the Best Fintech in Payments as it transforms payments with innovations like Pocket UPI

CHANGE AGENT • Jocata, led by Prashant Muddu, has emerged as the winner in the Best Fintech in Value Added Services category thanks to its innovative solutions

GOING SMALL • Gurugram-based fintech unicorn Oxyzo is revolutionising SME financing with its cash...