The bank has been at the centre of the black money and tax evasion scandal.
The deal fell as the transaction deadline expired. RBS said that it will wind-down its banking operations in the country.
HSBC's India staff have come under the scanner for deficiencies in their role as 'offshore reviewers' of the global banking giant's compliance to safety mechanism against money laundering and terrorist financing.
HSBC Holdings plc on Thursday said it was keen to study the opportunities available in the Indian insurance sector, including pension fund.
The Hongkong and Shanghai Banking Corporationon Friday announced it will acquire the Indian business of Royal Bank of Scotland worth $1.8 billion, a move that will help the British giant gain greater exposure in the country.
Investors have been hoping for a cyclical recovery.
Cuts its 2013 price forecast to $1,760 an ounce from $1,850.
Air India on Friday said it has completed the acquisition of its first A350-900 aircraft by way of a finance lease transaction with HSBC through the GIFT City. This is also the first wide body aircraft to be leased through the GIFT City, the country's first International Financial Services Centre (IFSC). In a release, the airline said the transaction was facilitated by its wholly-owned subsidiary AI Fleet Services Ltd (AIFS) and is also the first financing transaction from the orders for 470 aircraft that were made earlier this year.
India's booming outsourcing sector has been hit by a fraud again.
The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, inched up to 50.4 in April, from 50.3 in March, signalling only a marginal increase in output across global emerging markets in April.
While liquidity in the banking system has turned surplus in the last few weeks, it could go back to deficit again, mainly due to corporate advance tax outflows. The net liquidity surplus of the banking system rose to touch Rs 1 trillion on Tuesday on the back of government spending, according to the data released by the Reserve Bank of India.
Hongkong and Shanghai Banking Corporation (HSBC) is exploring opportunities beyond metro cities to expand its commercial banking business in India.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
The deal is stuck because the Reserve Bank of India has declined to transfer the branch licences of RBS to HSBC.
Hong Kong has regained its spot as the world's fourth-largest market following a broad market rout in Indian equities. Currently, the Chinese territory's market capitalisation stands at $4.9 trillion versus India's $4.75 trillion, according to data compiled by Bloomberg. In January, the domestic equity markets' market capitalisation had surpassed that of Hong Kong following a spectacular rally in the small- and midcap stocks.
Swiss police in February searched HSBC offices in Geneva as part of its probe.
Most global as well as domestic brokerages are upbeat on India's largest IT services provider, Tata Consultancy Services (TCS), despite its performance during the December quarter of FY25, when it missed Street estimates. On the bourses, the TCS share price rallied as much as 6.44 per cent to hit an intraday high of Rs 4,296.80 apiece, before settling 5.67 per cent higher at Rs 4,265.55.
Switzerland, long known as a place with unbreakable banking secrecy, has come under intense global pressure, including from India, to crack down on illicit fund flows.
Dr Reddy's Laboratories (DRL) share price plunged 6.66 per cent to Rs 1,203.50 per share on the NSE during Friday after analysts remained cautious on the company's Q3 performance and differed on its growth outlook. DRL's Q3 performance was viewed as subdued by some analysts when they adjusted it for one-time grants and incomes that the company received during the quarter.
The Reserve Bank of India is likely to cut policy rates by 0.25 per cent and keep the cash reserve ratio unchanged at its policy review next week, on the back of slower-than-expected growth and more encouraging inflation readings, says a report by HSBC.
HSBC Banking group will expand its capital market, corporate and investment banking team in India and establish analytical support facility to exploit growing business opportunities and provide services to the group's overseas requirements.
India's economic growth may slow down to a little over 8 per cent while inflation is likely to be above the comfort level at 6.6 per cent with an upward bias next fiscal, a senior economist from global banking major HSBC said on Wednesday.
Though there has been policy progress in Europe, the global economic backdrop remains decidedly challenging, Eskesen said, adding domestic conditions have remained fairly stable, though, and underlying inflation has stayed firm.
The revelation against HSBC has woken up the Indian agencies who have now put its India employees under the scanner. The Revenue Intelligence wing and also the Reserve Bank of India will probe some rogue elements in the bank who could have possibly facilitated this offence which helped drug lords and terrorist groups park money by hoodwinking the security agencies.
Analysts have largely maintained their positive outlook on HDFC Bank, as the private lender reported in-line results for the October-December quarter (Q3) of the current financial year (2024-25/FY25). They believe the results were 'strong' given the tough macro environment, and relative to peers.
In a filing to the BSE, Maruti Suzuki India said HSBC Global Investments Fund Mauritius Ltd had sold 1,99,198 shares in the open market on June 29.
Reliance Industries' (RIL's) oil-to-chemicals (O2C) business is likely to remain under pressure for the remaining of the current financial year, according to analysts and company executives. "Management guides for softness for the next couple of quarters in both retail and O2C businesses," analysts at BOB Capital Markets noted in an after-results report on RIL. For the July-September quarter (Q2) of 2024-25 (FY25), RIL's O2C business reported a 5.1 per cent year-on-year increase in revenue to Rs 1.55 trillion.
Naina Lal Kidwai, Country Head, HSBC India and the first Indian woman to have graduated from the Harvard Business School, in 1982 speaks about the importance of hard work, women in IIM classrooms and more.
Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.
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.
Finance Minister Nirmala Sitharaman will keep on the path of fiscal consolidation and opt for narrowing the FY24 fiscal deficit to as low as 5.8 per cent in the upcoming Budget, analysts said on Tuesday. The government may go for a fiscal deficit number which will be far lower than the 6.4 per cent of GDP budgeted for FY23, they said, pegging the Budget figure for the next fiscal in the range of 5.8 - 6 per cent. Given the fact that this will be the last full Budget of the present government, there may be a temptation to make it into an expansionist one.
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.
India's current account deficit which narrowed in the second quarter of this fiscal, however, is likely to widen during the second half of FY 2013-14 as seasonal demand bring in more imports, an HSBC report says.
Inflation has seen some moderation in the recent past, falling from double-digit figures in 2013 to 7.8 per cent year-on-year in August.
SIT on black money on Monday decided to widen its probe as new names of Indians with Swiss bank accounts have come up
HASBC says India is a strategic market and one of the key profit centres.
Though trade deficit is expected to 'narrow' in 2013 driven by ongoing curb of gold imports and the gradual removal of fuel subsidies, the deficit will still be 'sizeable', it said.
