BofA CEO Moynihan sees India as major growth engine, calls for more capital

Bank of America CEO Brian Moynihan says India is the fastest-growing major market globally, offers huge opportunity, and will need large amounts of capital to sustain its growth. He praised Prime Minister Modi’s consistent reform agenda, including Make in India, but urged regulators and bureaucracy to make doing business easier, especially around operational and data rules. His guidance to Bank of America’s new India CEO is clear: improve profitability, use capital efficiently, and manage risk prudently.

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