The SIT found and reported that there was no amount shown in almost 289 HSBC Geneva entries, while 122 of them were repeated twice in the same list.
The RBI left interest rates unchanged, saying there was no substantial development on inflation or fiscal fronts to warrant a fresh reduction.
Analysts are divided on their retail price inflation forecast, with some saying the first quarter numbers will overshoot the RBI target by as much as 60 bps while others are softer in their estimate. Consumer price inflation retreated from its 15-month peak of 7.4 per cent in July to 6.8 per cent in August, much lower than the market expectations, despite vegetable prices remaining elevated at 26.1 per cent. Food inflation eased to 9.9 per cent from 11.5 per cent, led by some cooling of inflation in vegetables, cereals, pulses and milk.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Sandwiched between demonetisation, GST and other smaller policy changes, Gross Value Added or GVA may be a more reliable measure of economic activity over the next few quarters.
India country funds saw an outflow of $700 million
'With technology advancing rapidly, the need for branches is declining.'
Although the country's manufacturing growth rate fell to its lowest in over four years last month, the export orders picked up and both input and output inflation eased, as per a monthly Purchasing Manager survey conducted by HSBC India and financial information provider Markit.
India is seen as a good destination to relocate to as expat parents enjoy greater opportunities to make significant financial savings.
The HSBC India Services Business Activity Index, that tracks changes in activity at Indian services companies on a month-by-month basis, fell from 51.6 to exactly 50.0 in October.
They are sceptical about execution of recent reforms govt has announced.
Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
When it comes to electric cars, the electric dream is turning out to be a six-letter word starting with f, ending with y, and having antas in between, notes Suveen Sinha.
Within three trading sessions in May, foreign portfolio investors (FPIs) have pumped in Rs 9,461 crore into Indian equities. This follows net inflows worth Rs 7,936 crore in March, and Rs 11,631 crore in April. The trend, analysts said, could continue going ahead as the US Federal Reserve may soon halt its interest rate hike cycle, which will strengthen foreign fund inflows into emerging markets, including India.
The Enforcement Directorate (ED) on Friday said it has issued show-cause notices to the Indian arm of Chinese mobile phone manufacturer Xiaomi, its chief financial officer and director Sameer B Rao, former managing director Manu Kumar Jain and three foreign banks for alleged violations of the foreign exchange law to the tune of more than Rs 5,551 crore.
Private sector output in India expanded for the first time in 8 months in February as slump in the services sector moderated and manufacturing grew at a stronger pace, an HSBC survey said.
Interview with first woman president of the Ficci country head of HSBC India.
She is also a recipient of the country's prestigious civilian award Padma Shri for her contribution to trade and industry.
The November trip to India by United States President Barack Obama will be another clear statement of American support and commitment to the US-India relationship, Secretary of State Hillary Clinton has said.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
Stuart A Davis, the chief executive officer at HSBC India, expects the Reserve Bank of India to increase repo and reverse repo rates by 25 basis points in its quarterly monetary policy review on July 27, as concerns over accelerating inflation and uncertain monsoon linger.
rediffGURU Kirtan A Shah answers your personal finance queries.
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
The move is aimed at reducing costs and improving efficiency.
BWF said that Finland will host the Sudirman Cup Finals in September-October while the season-ending World Tour Finals will be staged in Indonesia.
The headline HSBC Services Business Activity Index was at a 17-month peak of 54.4 in June rising from a modest 50.2 in May, HSBC said adding that 'the Modi wave has struck the service sector'.
rediffGURU Sunil Lala answers your personal finance-related queries.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
New business orders fall at faster pace, with index at 47.6 in March from 49.5 in February.
The index has posted below the 50 mark, which marks contraction, for the third consecutive month.
HSBC India has announced a new home loan package offering to pay back part of the interest to borrowers. Yes, like the foreign bank claims, it is a first in the home loans business. But if one takes a careful look, it might not be such a big deal after all.
It has been a choppy calendar year 2022 (CY22) for global financial markets amid the spectre of rising inflation that led most central banks, especially the US Federal Reserve (US Fed), to tighten their monetary policy. Most equity indices across the globe have seen a sharp fall from their respective peak levels in this backdrop. FTSE India, for instance, has corrected 16 per cent from its October peak.
The HSBC India Manufacturing Purchasing Managers' Index for the manufacturing industry climbed from 49.6 in October to 51.3 in November on the back of a rebound in new orders and output.
Three Indian women -- ICICI Bank deputy managing director Chanda Kochhar, HSBC India CEO Naina Lal Kidwai and Biocon head Kiran Mazumdar-Shaw -- have been named among the world's 50 most powerful businesswomen by the Fortune magazine.
SBI Q3FY24 result review: A higher-than-factored weakness in the October-to-December quarter (Q3) results of State Bank of India (SBI), for financial year 2023-24 (FY24), has prompted brokerages to cut earnings estimates for the ongoing financial year. They, however, have maintained 'Buy' ratings on the stock, revising target price upwards in some cases, owing to the stock's recent underperformance relative to its peers.
Sahara was to provide a bank guarantee from HSBC.
