Indian banks are in good shape. We’ve heard that often enough from the Reserve Bank of India (RBI) and the government. Now we have independent confirmation. This time, endorsement of their good health and bright future comes not from the Reserve Bank of India (RBI) governor or from the ministry, but from Sumitomo Mitsui Financial Group Inc (SMFG).

The second-largest Japanese bank by market value is to acquire 4.5% stake in Kotak Mahindra Bank for $296 million. Source

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