Indian Financial Services

RECENT NEWS
The Times of India  Jul 14  Comment 
Canadian investor Prem Watsa's Fairfax India Holdings Corp plans to increase its stake in Indian financial services firm IIFL Holdings Ltd to up to 26 percent for $225 million through a share tender offer.
Finance Asia  Apr 20  Comment 
The Indian financial services group has linked up with FSG to snag more mandates from mid-sized companies looking to raise capital on the country’s soaring stock market.
Finance Asia  Apr 19  Comment 
The Indian financial services group has linked up with FSG to snag more mandates from mid-sized companies looking to raise capital on the country’s soaring stock market.
The Hindu Business Line  Nov 27  Comment 
The Indian financial services sector could take a few lessons of branding and design from Europe
Commodity Online  Mar 14  Comment 
IIFL(Indian Infoline), leading player in the Indian financial services, announced its customer sign up with OrangeScape Technologies Ltd, one of the Global 10 Cloud Platform-as-a-Service providers featured in PaaS, to help with its automation...
Wall Street Journal  Feb 10  Comment 
Indian financial services company Reliance Capital reported a 43% drop in third-quarter net profit, hurt by higher interest costs and a loss in its general insurance business.
Business Times - Singapore  Jun 10  Comment 
TEMASEK Holdings, Swiss Re and Tata Capital are in final-stage talks with Indian financial services firm First Leasing Co for a 27.3 per cent stake, two sources with direct knowledge said.
Reuters  Jun 6  Comment 
International Business Machines (IBM) said on Monday it has sealed a 2.98 billion rupees ($66.4 million) outsourcing pact with Indian financial services firm India Infoline (IIFL).
Reuters  Jun 3  Comment 
Indian financial services firm Infrastructure Development Finance Company said on Friday it, along with Malaysia's Khazanah, will form an infrastructure development joint venture with focus on road projects in India.
Reuters  Dec 2  Comment 
Indian financial services group Religare Enterprises Ltd said on Thursday it will buy a stake in alternative asset manager Landmark Partners for up to $171.5 million, marking its second U.S. deal in the sector.




 
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The banking system in India is significantly different from that of other Asian nations. The country’s economic policy framework combines socialistic and capitalistic features with a heavy bias towards public sector investment.

About 92 percent of the country’s banking segment is under State control while the balance comprises private sector and foreign banks. The public sector commercial banks are divided into three categories.

  • State Bank Group (eight banks): This consists of the State Bank of India (SBI) and Associate Banks of SBI.
  • Nationalized Banks (nineteen banks): Nationalized banks are wholly owned by the Government, although some of them have made public issues. In contrast to the state bank group, nationalized banks are centrally governed, i.e., by their respective head offices. Thus, there is only one board for each nationalized bank.

The state bank group and nationalized banks are together referred to as the public sector banks(PSBs).

  • Regional Rural Banks: In 1975, the state bank group and nationalized banks were required to sponsor and set up RRBs in partnership with individual states to provide low-cost financing and credit facilities to the rural masses.[1]

Key Ratio Comparison of Indian Banks

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Indian Banks: Key Ratios[2]
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