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Big banks are pouring billions into their sprawling Indian operations

The Australian Financial Review (AFR) •
November 01, 2026 • 06:00 PM
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Four of the country’s biggest lenders have quietly expanded their operations in hi-tech hubs, attracted by lower wages and a highly skilled workforce.

Big banks are pouring billions into their sprawling Indian operations

By rickshaw, the ANZ offices are four minutes away from Commonwealth Bank. Traffic permitting, a prospective employee could be interviewing at National Australia Bank before lunch.

This is Bengaluru, known as the Silicon Valley of India, increasingly a base for Australian banks as they cut costs by sending scores of positions overseas. The capital city of India’s southern Karnataka state, is home to more than 1000 support hubs , or as they are more commonly described by their multinational owners, global capability centres.

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