After the announcement of troubles in Standard Chartered's India operations last week, another foreign bank, HSBC announced
this week that it would close its private banking operations in India. The bank cited intense competition as one of the reasons behind this move. Not all news was bleak though. Real estate-focused PE firm Xander
announced a fresh note of commitment towards more investments in India in the coming years. Despite a slowdown in the market, Xander remains bullish on residential and commercial real estate in India, a market where it already has a $10bn portfolio.