McKinsey & Company has renewed its Mumbai office lease in Bandra Kurla Complex, locking in prime space with a high rental rate. The agreement begins October 1, 2026 and runs for ten years, highlighting continued demand from global firms for premium commercial locations. The renewal is reported among the costliest office leases in India.
McKinsey says India’s banking sector is shifting from a phase of strong profits and balance sheet improvement to a tougher era of structural pressures. Higher operating costs and emerging credit risks are likely to weigh on profitability, forcing banks to navigate “turbulence” as the operating environment grows more complex than in recent years.
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Banks are pouring money into artificial intelligence, but McKinsey finds the expected payoff is not showing up. The report says legacy technology stacks and existing operating processes are slowing or limiting AI experimentation. Instead of redesigning workflows from scratch, many institutions simply attach AI to current systems, which caps efficiency, speed, and innovation gains.
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