Synopsis
What made banks like HDFC and ICICI what they are today? Besides many other factors, there is one – not quantitative, but qualitative – that made the difference. Back in the late 1990s, when not many banks were using technology to scale up and put systems in place to keep a check on NPAs, these banks focused on technology. Over the years, however, that differentiator between large private sector banks and other banks have become regulatory norms. The gap started narrowing and the process gathered pace when reforms were implemented from 2014 onwards. In this phase, some of the smaller private banks have also spent on technology. Now, with foreign money pouring into the banking/NBFC space, will they attract attention?
In the last three months, the amount of money that the banking sector has seen coming by way of foreign direct investment is something that has never happened before. There is, however, another factor worth noticing. All the money is pouring into relatively smaller entities, or those with troubled pasts. There could be a reason for this: Banking as a sector has seen a major change in India in the last 10 years. The regulatory structure that has
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