According to the financial services firm, India's growth pattern remains skewed towards the services sector and is heavily dependent on domestic consumption, which it said, raises the possibility that the imbalance between the services and other sectors may widen even further.
Barclays, a global financial services provider, announced the launch of 'Hello Money', a mobile banking service for its customers. The service will enable Barclays' customers access banking services anytime/anywhere on-the-move through mobile phones.Barclays customers can now perform account enquiries and financial transactions by simply dialling *598*1#. They can carry out secure banking transactions like fund transfers, bill payments, requests and other banking services.
At a time when most foreign banks in India are looking at opening more branches, British lender Barclays has decided to close three of its nine branches in the country.
Barclays and BNP Paribas are considering the acquisition of Lehman Brothers' investment banking and brokerage businesses in India.
This comes within two months of China announcing an investment of $3 billion from its trillion-dollar forex kitty for a 10 per cent stake in the US-based global private equity giant Blackstone.
Leading global bank Barclays on Thursday said it has laid off around 250 staff in India in the last three days, predominantly from its collection team.
The move would result in around 25-30 job cuts.
The ICC Board will now begin the process to identify Allardice's successor.
Wholesale inflation fell to a 4-month low of 1.31 per cent in August due to a decline in prices of vegetables and fuel, even though onion and potato prices spiked, according to official data released on Tuesday. Wholesale price index-based inflation fell for the second straight month in August after it hit a high of 3.43 per cent in May. Inflation in July was 2.04 per cent. In August last year, WPI inflation was (-) 0.46 per cent.
Bouyed by Indian growth trajectories, Barclays plc on Tuesday said it would infuse $70 million in the country for a period of two years from 2006 to foray into the corporate banking business.
Barclays Finance, the non-banking finance arm of Barclays Corporate in India, plans to close the majority of its branches here, as part of the lender's plan to scale down retail operations in the country.
Barclays customers would now be able to access all the information about the bank and its products and services besides downloading account opening forms in seven languages -- English, Hindi, Marathi, Gujarati, Tamil, Telugu and Kannada. Barclays Bank Plc's Global Retail and Commercial Banking, managing director, India and Indian Ocean, Samir Bhatia, said: "Barclays is committed to offering services that make banking easy and accessible to all."
Lord's, the 'home of cricket', will host its first-ever Women's Test between India and England in 2026, the ECB announced on Thursday.
'The ICC board will meet on November 29 to discuss the Champions Trophy schedule.'
Jay Shah expressed his vision to grow the global reach of the sport with a particular focus on the opportunity of the Olympic Games in Los Angeles in 2028.
All eyes will be on BCCI secretary Jay Shah during the four-day ICC Annual Conference in Colombo, starting on Friday, where there might be serious discussions about when he will take over from New Zealander Greg Barclay as the chairman of the global body.
The brokerage firm cautioned that there is a possibility of further downside risks to growth, especially in the near term as RBI's policy interest rate cuts in recent months has not been translated into reduction in bank lending rates.
'We have to retain some fiscal headroom without compromising on the promised fiscal consolidation roadmap.'
The Reserve Bank of India is likely to announce a "gradual" exit from its easy money stance and may resort to raising key rates to squeeze out excess liquidity from markets in its forthcoming review meeting, investment banking firm Barclays Capital says.
Bars FII from issuing offshore derivative instruments on grounds of rules violation.
Stating that the current economic scenario is similar to 1991-92 crisis, foreign brokerage Barclays said credit growth of banks will slow down to 10-11 percent levels.
The recent depreciation of the rupee along with sharp fall in the country's foreign exchange (FX) reserves has sparked a debate whether stability of the exchange rate is necessary and desirable. The rupee was one of the least volatile currencies among peers for almost two years before the current downward pressure started in September after the US Federal Reserve lowered interest rate.
Barclays further said there is increased momentum in announcements of equity offerings in public sector units, 'which suggests upside risks to our estimate of fiscal divestment proceeds of Rs 25000 crore in the next fiscal,
According to sources familiar with the developments, the bank may sell more than Rs 3,000-crore (Rs 30-billion) worth of retail assets in India comprising mortgage loans, personal loans and loans to small businesses.
Emerging market currencies including Indian rupee are likely to remain under pressure, though depreciation is expected to slow from here, Barclays said in a research report.
Mango is a UK-registered charity and the partnership is across Barclays GRCB's emerging market entities.
The Indian economy is likely to benefit from tailwinds from both monetary and fiscal policy in the coming month
Barclays Bank on Thursday launched its retail and commercial banking service in India. So far, the bank operated in the country through Barclays Capital, its investment division.
On India strategy, Barclay said it would continue to grow the business in the same way as it has been growing in the last 5 years.
As part of its expansion drive in the high-potential Indian financial services market, Barclays Bank plans to pick up a 10 per cent stake in asset reconstruction company, ARCIL, from domestic banking major ICICI Bank.\n\n
'We operate in 16 countries already, and therefore adding the UK to it, and beginning a chapter in the European continent is the next step.'
India's economic growth had slumped to decade low of 5 per cent in 2012-13.
Lower revenue, rise in costs, higher provisions hit earnings in a subdued growth environment.
The group had earmarked $400-million to fund its expansion in the private banking business globally, two years back. The group has already hired 57 professionals for its Indian operations and plans to enhance the staff strength to nearly 100 within the next six months.
Barclays Plc, UK's third-largest bank by assets, plans to enter the emerging credit card market in India.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
According to sources familiar with the developments, Barclays may review several options, including the sale of its credit card operations in India.
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