The Reserve Bank of India (RBI) has issued a restricted banking licence to American Express Bank (Amex) to conduct credit card and travel-related businesses in India.
Finance Minister P Chidambaram asked Britain on Thursday to allow Indian banks to open more branches in that country.
According to an industry analyst, the telecom infrastructure sector needs over $20 billion, while the passive infrastructure segment needs an investment of over $12 billion.
Following the AMFI approval, these entities would be given the clearance by CDSL Ventures Ltd, the nodal agency for MIN issuances.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
The high-profile bidding war for control of Hutch-Essar could intensify with reports in the British media suggesting that Indian partner Ruias have received funding pledges worth up to $25 billion to buy out foreign stakeholder Hutchison Telecom.
The Ruias have received overwhelming response from international banks for funding of their proposed bid to pick up Hutchison's 67 per cent equity stake in Hutchison-Essar Ltd, in which they hold the remaining stake.
An elite athlete field of 40 of the world's top 100 long distance runners for the Standard Chartered Mumbai Marathon.
Even as the market remained flush with liquidity, banks were in no mood for subscribing to fresh corporate bonds or commercial papers ahead of the annual policy review. According to market dealers, the 10-year, AA-rated bond issue of Tata Power to raise funds devolved on its lead arranger Standard Chartered Bank. The bank did not offer any comment when contacted.
If you move the clock forward and look at the future of the bank, then India and China are going to be the two largest markets for us. And we have grown our revenues and profits very rapidly - 50 per cent in the first half of 2007.
EMI card is a unique installment concept, wherein you have the option of paying a fixed amount every month subject to the purchase limit you enjoy.
Standard Chartered Plc on Tuesday reached an agreement to acquire US-based American Express Bank Ltd for about 431 million pounds ($860 million) in cash
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
The Delhi State Consumer Commission has imposed a penalty of Rs 10 lakh on Standard Chartered Bank for harassing and threatening an advocate with the help of 'muscle men'
Infrastructure Development Finance Company has bagged Standard Chartered's asset management business in India for a total consideration of $205 million (around Rs 820 crore) in an all-cash deal. This deal, like the ill-fated UBS' bid last year, however, does not include StanChart's mutual fund distribution business, which the London-based bank will continue to pursue in India.
Finance Minister P Chidambaram has urged Britain to allow Indian banks to open more branches in that country.
A consortium of bankers that will fund the Ruias' bid for Hutchison's 67 per cent equity stake in Hutchison Essar Ltd will begin "due diligence" on the company in the next few days
IIT Kharagpur gets more than 1,000 job offers in a record five days, with 144 companies visiting the campus till Dec 5
Olympic gold medallist Kelly Holmes would visit India for the January 21 Mumbai Marathon.
Defending champion John Kelai of Kenya and twice winner Mulu Seboka won the men's and women's titles respectively in the Mumbai Marathon, while Ramsingh Yadav emerged the fastest Indian runner.
The Kenyan elite runners said they faced a lot of problems in their preparation for the run due to the ongoing crisis in their country.
Union Finance Minister P Chidambaram said in the Lok Sabha the Reserve Bank of India and the Securities and Exchange Board of India have taken up corrective measures in the IPO scam.
Captive centres set up by multinational corporations in India are posing a serious threat to the domestic outsourcing companies.
The foreign bank is present in the wealth management space with client assets under management of Rs 10,000 crore.
The unexpected upward revision of the country's sovereign rating by Fitch today will strengthen the battered rupee which would also stem the fund outflow from the domestic market, Standard Chartered said.
The Reserve Bank of India has rejected Essar Communications' application to pledge its equity in Hutchison Essar Ltd to Standard Chartered Bank, London.
UK-headquartered Standard Chartered Bank is set to become the third foreign player to enter the Indian retail stock brokerage business by buying a 49 per cent stake in UTI Securities for Rs 140-150 crore.
The Enforcement Directorate had invoked Section 68 of the Foreign Exchange Regulations Act against a number of top executives of the banks.
Claiming that the sub-prime crisis in the mortgage market has not affected the bank, Standard Chartered Bank chairman Mervyn Davies said the crisis was not yet over and it would take few months to tide over. "Sub-prime crisis has been a real shock, though Asian markets like China and India have remained unaffected. It is not yet over and it may take few more months before the crisis is over," said Davies, who is in India to attend the bank's board meeting.
According to an investment banker, apart from other international suitors, the Indian companies such as Godrej and Marico too have been approached for picking up the stakes in the home and personal care products company.
We are focusing on how to make banking affordable for the customer. The bank is bullish on retail business, says Suresh Gurumani.
Mumbai Marathon race director Hugh Jones said the only thing the runners might have to worry about would be the weather of the city.
'Make Trade Fair', an international movement to prevent exploitation of artisans and farmers in underdeveloped countries, announced their participation in the Mumbai Marathon.
The amount was handed over to Maharashtra Governor S M Krishna at a function by event partner Give India.
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