While an uptick in economic activity will help banks come out of some of their problems, some issues currently facing the Indian banking industry are of its own doing says Pramit Jhaveri.
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
Citibank's Securities and Fund Services said on Monday it will offer securities lending services to its clients in India.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
Learning perhaps from the Kargil debacle, Musharraf tried hard to evolve as a statesman in his dealings with India, recalls Rana Banerji, who headed the Pakistan desk at RA&W.
For India, we continue to believe that the market and clients here require flexible pools of capital that can address their financing requirements across the capital structure, says Sanjay Nayar, CEO and Country Head for India, KKR.
The current account deficit, which is the difference between inflow and outflow of foreign exchange, rose to a record high of 4.8 per cent of GDP in 2012-13, from 2.8 per cent in 2010-11.
A film-maker has accused Citi India of 'picking up' his idea for their latest ad. But the bank denies this vehemently and has threatened legal action.
If you are a Citibank credit card holder in Bangalore, and use a Vodafone mobile phone service on a Nokia 6212, you need not carry that Citi credit card anymore.
The deal, which will be signed this week, will see Standard Chartered Bank adding 170,000 cards to its existing portfolio of 1.1 million cards. The foreign lender will also become the fifth largest card issuer in the country after HDFC Bank, ICICI Bank, Citibank and State Bank of India.
Former HDFC Bank CEO Aditya Puri will be guiding global Carlyle on investment opportunities across Asia as a senior advisor, the global private equity major said on Monday.
India's booming outsourcing sector has been hit by a fraud again.
The sub-prime loss-hit Citigroup is on a cost-cutting exercise in its Indian operations. CitiFinancial, its consumer finance unit, which is also reeling under the burden of rising bad loans, is considering closing about 100 of its 450 branches in India.
The fine was imposed in the exercise of powers vested in the RBI under the provisions of Section 47 A (1) (b) of the Banking Regulation Act, 1949.
Find out how much you know about India and its banking services.\n\n
A probe into the fraud had revealed that the main accused, Shiv Raj Puri, then a Citibank relationship manager at its Gurgaon Branch, was offering to its clients fabricated investment schemes with guaranteed high returns and received signatures on blank fund transfer forms.
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
They are small town boys who went on to make it big in global financial powerhouses.
A career Citibanker, 'Selva' came into the spotlight as the person who rewired the financial behemoth's Indian retail operations.
Continued outflows amid moderation of domestic investments are a concern
Customers are increasingly preferring to pay through EMIs while buying high-value consumer items, as affordability has become a key factor in the post-pandemic scenario, payments solution provider Ezetap said on Thursday. Buying ability of consumers across the country has been significantly reduced due to the pandemic. They are either avoiding a single big payment or entirely skipping to buy any new item, Ezetap said.
Sebi also plans to examine if any comments made by company officials or the bankers could have misled investors.
Puri gave up the comforts of Citibank to set up a new-age bank from a rat-infested room in the Kamala Mills Compound in Worli, Mumbai and build a marquee brand. A look at his 26-year stint as HDFC Bank's boss.
The multi-crore fraud at the Gurgaon branch of Citibank has prompted the banking regulator to review existing norms for the portfolio management services (PMS) of banks.
Six months after a Rs 400-crore fraud was detected in its Gurgaon branch, the Reserve Bank of India (RBI) on Monday rapped Citibank for the episode.
US giants -- Citibank, Merrill Lynch, Smith Barney and Chase -- might be revered as big daddies of the banking and financial service space here in India, but consumers in their own homeland consider them 'below average'.\n
This is the biggest equity-raising exercise by an Indian corporate within a financial year. The fundraising - led by Citibank, Goldman, Kotak and Axis Capital as bankers - will see participation by foreign and domestic institutional investors.
When Anand Mahindra becomes non-executive chairman in November, Shah will become the first professional MD and CEO in the history of the Mahindra group to have a complete oversight of and responsibility for the Mahindra group businesses.
'Spends are likely to increase from the current levels because recovery is yet to fully be over.'
An astute advertising professional, he took Ogilvy & Mather India to the number one position after coming on board as managing director in 1994
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
While the lender has Rs 17,000 crore of retail assets and land parcels in Juhu, Borivali, Worli, and Chembur in Mumbai, there may be a disconnect between the quality of DHFL's books and the value bidders ascribe to it.
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