Singapore regulators have stepped up their scrutiny of some local branches of Indian banks on concerns about asset quality, three bank executives told Reuters.
India's slowest economic growth in a decade and a weakened rupee have weighed on the balance sheets of heavily leveraged Indian companies, including those that have raised money from Indian lenders in offshore centres such as Singapore.
The Monetary Authority of Singapore (MAS) is looking more closely at the books of the local operations of some Indian banks to assess the credit quality of loans made from the branches to Indian companies, bankers said. Full story
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