Massive face-lift

Article Abstract:

India's banking sector has responded to reforms begun in mid-1991, throwing off the effects of a decades-long socialist agenda that ignored proper accounting, profitability, and capital adequacy. Banks in 1993-94 still lost $1.08 billion, but the 27 public banks made $268.9 million in 1994-95. New banks, both specialized start-ups and foreign titans, have also been allowed to enter the field. 11 new private banks have appeared since 1993, and thus far seven of the permitted 15 foreign banks for 1995-96 have won approval.

Commercial Banks, Commercial Banking, Banking industry, Foreign banks

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Digging for profits

Article Abstract:

Kotak Mahindra Finance Lsatd (KMFL) has rapidly established itself as a major force in India's financial-services world, by virtually any measure. The country's largest car financer, it also looms large in asset financing, underwriting, and investment banking. Vice-chairman Iday Kotak also operates Kotak Securities and is developing an asset-mgmt company, leaving him lacking only a bank. Given the market's turbulence, KMFL itself is concentrating on media and other high-profile areas.

Financial Services, Finance and Insurance, Management, Financial services industry, Kotak Mahindra Bank Ltd.

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Opportunity knocks

Article Abstract:

India has had mixed success in stimulating a moribund tourism sector, which now draws barely 2 million visitors annually. A feeble infrastructure is part of the problem, with 70% of the mere 64,000 hotel rooms nationwide sited in cities and catering to business travellers. India also has a poor international image. Efforts to encourage more hotel construction have shown some results, though red tape continues to stifle many plans. Official policies and attitudes compound the problems.

Lodging & Tourist Services, Accommodation, HOTELS AND OTHER LODGING PLACES, Travel industry

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