In­dian Fi­nan­cial Firms Skat­ing on Thin Ice?

The Economic Times - - Money & Banking -

In­dian fi­nan­cial ser­vices firms are re­joic­ing the surge in pri­vate wealth man­age­ment busi­ness at the ex­pense of for­eign banks, which had a stran­gle­hold on the busi­ness so far. But that may not nec­es­sar­ily be a good news. An in­ter­na­tional banker says that laws have be­come so tough that they can’t com­pete with lo­cal com­pa­nies, which in­dulge in sharp prac­tices they dread. Watch out for some in­stances of ‘mis­deeds’ by lo­cal com­pa­nies, be­fore even the lo­cal reg­u­la­tor

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