Bloomberg Mastercard Inc won approval to set up a bank card clearing business in China, gaining access to a $27 trillion payments market as part of the nation’s financial opening. The announcement by the People’s Bank of China (PBOC) on Tuesday signals the country is moving ahead with the speedier opening of its financial system that was agreed on as …

Bloomberg When a former Yes Bank Ltd executive started selling his stake in September, the Indian lender’s top managers watched for any sign that the resulting drop in share price would trigger a rush to withdraw deposits. The stock sales came as customers of a regional lender — Punjab & Maharashtra Co-operative Bank Ltd — were lining up outside its …

Bloomberg Local Chinese banking regulators are urging lenders to increase their tolerance for bad loans and lower profit targets as the coronavirus hits at businesses across the country. Over the weekend, China Banking and Insurance Regulatory Commission’s Zhengjiang branch asked banks in the region to be more lenient on bad loans and reduce their profit targets. The local bank watchdog …