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.
The transactions reflected growing investor confidence in India’s economy and had “opened up a new chapter” in Indian banking, said analysts at Mumbai-based Motilal Oswal Financial Services in a note.
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