Rising competition from global banks may lower pricing on loans: Barclays

A RENEWED PUSH by Japan's major banks and other global lenders in India is driving down loan prices with the new players having more appetite for riskier credit, according to the country head for Barclays Plc.

- PREETI SINGH & SAIKAT DAS

"We are certainly seeing a higher degree of competition from some of the banks, including many leading Japanese banks, who weren't necessarily competing for the same set of clients or this kind of risks earlier," said Pramod Kumar, Barclays' chief executive officer for India. These banks are deploying "a significant amount of balance sheet now in India," he said.