Alibaba broke its Singles' Day online shopping sales record on 11 November when gross merchandise volume reached $30.8 billion. This beat last year's $25 billion, which was surpassed in just 15 hours and 49 minutes.
Retail banking sector has been the main growth driver for Indian banking sector during the past few years, as banks’ exposure to corporate banking sector has been reduced due to bad loans problems. Their retail lending has grown at a compound annual growth rate (CAGR) of 16.2% over the FY2013 to FY2018 period, making India's retail banking one of the biggest among emerging markets.
Although the Asia Pacific banking sector as a whole has become more robust in the past few years, there remains concerns over persistent financial risks and vulnerabilities. The regulators have moved aggressively to control the risks and strengthen the banking systems