India’s decision to impose the world’s biggest virus shutdown has exposed a weak spot for the largest securities firms, which grappled with a sudden halt of their operations there.
Some global banks are scrutinizing their presence in Asia’s third-largest economy after the lockdown in March effectively closed call centers and other units overnight. European regulators have also assessed the impact of India’s lockdown on the banking industry this week, showing the challenges of providing the infrastructure such as laptops required to work remotely.
The push to outsource support functions such as call centers “exposed these banks to operational risks,” according ...