Global banks pour into India as regulators open up to foreign money

Global banks are buying up stakes in Indian lenders as the country’s government and regulators become increasingly relaxed about foreign entities acquiring significant holdings. Since the start of the year, India’s financial sector has had $8bn worth of deals from foreign companies, up from $2.3bn last year and $1.4bn in 2023, according to Dealogic data. Vikram Raghani, senior partner at JSA, an Indian law firm that has been involved in recent banking deals, said previous mergers and acquisitions might have involved lenders that were “in some kind of stress”. Read more