Today In Payments Around The World: India’s Central Bank Aims To Clamp Down On Shadow Lenders; Global FDI Falls By 42 Pct

In today’s top payments news around the world, India’s central bank wants stricter regulations for big shadow lenders, while global foreign direct investment (FDI) dropped last year and the pandemic will continue to impact it this year. Plus, British travelers age 55 and older are powering a formidable rise in trip bookings.

Reserve Bank Of India Wants To Crack Down On Big Shadow Lenders

The central bank of India wants more stringent regulations for large shadow lenders. The Reserve Bank of India aims to prevent events such as the collapse of a significant financier in 2018. It seeks to put non-bank financial firms into one of four categories. One idea is a 9 percent core capital mandate on the top tier.

Foreign Companies Abandon US Investments In Favor Of China

Global FDI dropped by 42 percent last year, and COVID-19 will keep impacting it in 2021, according to a UNCTAD report, as China reaps more foreign funds than the United States. FDI dropped to $859 billion in 2020 from $1.5 trillion in 2019. The last time a trough that low was seen was in the 1990s.

55-Plus Group Lends Optimism To Travel Operators

U.K. travelers age 55 and older supported by confidence in newly approved coronavirus vaccines are reportedly fueling a powerful increase in trip reservations. Bus company National Express registered a 185 percent rise in reservations for spring and summer trips in contrast to reservations made during the same timeframe last year.

SAP Hong Kong, Deloitte Team On X-Border Trade Tool

SAP Hong Kong, the software company, and Deloitte, the consulting firm, have collaborated on an offering that they say provides great rewards to companies participating in cross-border trade. “With the support of SAP GTS and Deloitte, these businesses are now well positioned to navigate an increasingly volatile and complex global trade environment in 2021 and beyond,” Fabian Padilla Crisol, managing director of SAP Hong Kong, said in a release.