Suvashree Ghosh And Anto Antony Bloomberg

The networks of India’s biggest banks have struggled to keep pace with India’s mobile payments revolution, crashing again and again. The outages are exposing years of underinvestment in technology and a surprising lack of preparedness, analysts and executives say.

Even before the pandemic, Indian consumers were taking up mobile payment technologies with remarkable speed. There's just one problem: The networks of India's biggest banks have struggled to keep pace, crashing again and again.

A ball that hit him in the head and led to an emergency surgery pushed a 20-year-old Mr Kotak to abandon his dream of becoming a professional player

Lakshmi Vilas Bank's troubles come just months after the rescue of larger private-sector peer Yes Bank Ltd. in what was India's biggest bank bailout.

From the age of 12, Challa Sreenivasulu Setty spent his school vacations collecting debts for his father's grocery store in the small south Indian village of Potlapadu.

Yes Bank's loss of mom-and-pop deposits in September was manageable in the end, though it pointed to a risk for the lender whose peers HDFC Bank Ltd. and ICICI Bank Ltd. drew more savings from customers during that period

For HDFC Bank, the weaker economy had led to a slowdown in loan growth, which eased to 15 per cent in the September quarter from 23 per cent a year earlier.

Deutsche Bank started its India operations in 1980 and now has about 1,800 employees in businesses including retail and wholesale banking, investment-banking advisory and wealth-management services.

In India, digital payments have climbed more than five times since 2015 to 22.4 transactions per person in the year ended March, Reserve Bank of India figures show.

Rules require WhatsApp to submit a third-party auditor report that all data involved in payments will be only stored on servers in India.

The networks of India’s biggest banks have struggled to keep pace with India’s mobile payments revolution, crashing again and again. The outages are exposing years of underinvestment in technology and a surprising lack of preparedness, analysts and executives say.

Even before the pandemic, Indian consumers were taking up mobile payment technologies with remarkable speed. There's just one problem: The networks of India's biggest banks have struggled to keep pace, crashing again and again.

A ball that hit him in the head and led to an emergency surgery pushed a 20-year-old Mr Kotak to abandon his dream of becoming a professional player

Lakshmi Vilas Bank's troubles come just months after the rescue of larger private-sector peer Yes Bank Ltd. in what was India's biggest bank bailout.

From the age of 12, Challa Sreenivasulu Setty spent his school vacations collecting debts for his father's grocery store in the small south Indian village of Potlapadu.

Yes Bank's loss of mom-and-pop deposits in September was manageable in the end, though it pointed to a risk for the lender whose peers HDFC Bank Ltd. and ICICI Bank Ltd. drew more savings from customers during that period

For HDFC Bank, the weaker economy had led to a slowdown in loan growth, which eased to 15 per cent in the September quarter from 23 per cent a year earlier.

Deutsche Bank started its India operations in 1980 and now has about 1,800 employees in businesses including retail and wholesale banking, investment-banking advisory and wealth-management services.

In India, digital payments have climbed more than five times since 2015 to 22.4 transactions per person in the year ended March, Reserve Bank of India figures show.

Rules require WhatsApp to submit a third-party auditor report that all data involved in payments will be only stored on servers in India.