Hongkong and Shanghai Banking Corporation (HSBC) is exploring opportunities beyond metro cities to expand its commercial banking business in India.
The New Delhi District Consumer Disputes Redressal Forum pulled up the bank saying that HSBC's act was not only 'motivated by commercial gains', but also by a 'malicious mind' to 'settle scores' with the complainant, who was a former employee, for challenging his termination in a labour court.
The deal fell as the transaction deadline expired. RBS said that it will wind-down its banking operations in the country.
Government has refused to acknowledge Arvind Kejriwal's charges.
The many ways in which the fast-expanding bank got it wrong on money laundering.
The move comes after RBS failed to close a deal involving sale of its India retail assets to Hongkong and Shanghai Banking Corporation.
It is not often that you find a mechanical engineer leading the private banking business of a foreign bank in India.
Indians want to have a little more clarity and certainty before they invest, says Naina Lal Kidwai, Executive Director, HSBC Limited and Country Head, HSBC India.
Before joining IndusInd Bank, he was the regional head of RBS' corporate solutions business in Asia Pacific region and was based in Singapore.
The move is aimed at reducing costs and improving efficiency.
In an interview with Malvika Joshi and Somasroy Chakraborty, Madan Menon, RBS' chief executive for Singapore and Southeast Asia and head of global banking and markets in India, shares the bank's plans.
Wisconsin-based Dr Arvind Ahuja, a board certified neurosurgeon, wire transferred and maintained millions of dollars in bank accounts in India and the Bailiwick of Jersey at The Hongkong and Shanghai Banking Corporation Ltd, according to the indictment.
The move comes at a time when four foreign banks - Standard Chartered, Hongkong and Shanghai Banking Corporation, American Express and Citibank -- have moved the Supreme Court with a special leave petition and the hearing for admission of SPL is on September 8. The committee is, however, expected to wait till the Supreme Court decides on the issue before finalising its recommendations. The committee is, however, expected to wait till the Supreme Court decides on the issue.
Hongkong and Shanghai Banking Corporation (HSBC) is looking at entering the retail broking business to benefit from the rapidly growing middle class investors in India. It may scout for an existing retail broking house to hasten the pace of setting up business.
The Hongkong and Shanghai Banking Corporation is in the process of setting up a non-banking financial company to cater to new market segments
The Hongkong and Shanghai Banking Corporation is looking at investing over $400 million in India with organic growth driving expansion.
HSBC has acquired the stake from E*Trade Mauritius ( 43.85 per cent) and an additional 29.36 per cent stake from IL&FS. In addition, HSBC has paid a non- compete fee of Rs 82.45 crore ($19.4 million) for a three-year period to IL&FS.
The Hongkong and Shanghai Banking Corporation Ltd on Thursday announced several top-level executive moves and new assignments for its India operations.
Tata Iron and Steel Company on Friday said it has signed a loan agreement with International Finance Corporation for availing a $300 million loan to fund its future projects.
Actis has sold off its five per cent stake in UTI Bank to foreign institutional investors for Rs 130 per share.
Reserve Bank of India has turned down Hongkong and Shanghai Banking Corporation Ltd's plans to pick up about 20 per cent stake in UTI Bank by restricting its approval for acquisition of only 14.6 per cent stake
UTI-I will not offload its holding in UTI Bank Ltd and instead be part of the UTI brand to exploit business synergies.
The Hongkong and Shanghai Banking Corporation has announced that its open offer for acquiring additional 20 per cent in UTI Bank at Rs 90 per share.
The Hong Kong and Shanghai Banking Corporation in India has reported a 32 per cent rise in net profit (after extraordinary expenses) to Rs 197.8 crore (Rs 1.98 billion) for the fiscal ended March 31, 2004.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
2nd time within a few days RIL has hit the forex debt market.
The foreign lender's profit after tax was Rs 2,960 crore
Ratnakar Bank to absorb RBS' employees involved in three businesses
A major criticism of the new law is that it can become an instrument of abuse as it confers the tax enforcement authorities with strong discretionary powers, says Paranjoy Guha Thakurta.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
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