Citi joins list of foreign banks scaling down India ops

Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis......

Sensex ends below 28,000 as rate cut hopes dim

Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon Markets ended lower on Monday after the appointment of Urjit Patel as......

Indian wealth managers rush in as foreign players exit

  Domestic wealth management companies are hoping to and trying to fill the gap left by the retreat of foreign wealth managers in India.In the past year, the wealth management arms of IIFL,......

2015: A year of downsizing for foreign banks

Slowdown in corporate lending and the high cost of doing business in India are forcing a rethinkLast month, HSBC announced it was shutting its private banking operations in India. It followed the......