It is not often that you find a mechanical engineer leading the private banking business of a foreign bank in India.
HSBC has acknowledged compliance lapses, including a failure to maintain an effective anti-money laundering programme.
A figure above 50 indicates that the sector is expanding, while a figure below that level means contraction.
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.
The HSBC India Composite Output Index, which maps both services and manufacturing activity, fell to 48.4 in July, down from 50.9 in June, indicating an overall contraction.
Public sector banks have lowered both deposit and lending rates, while almost all private and foreign banks have stayed away from rate cuts despite the Reserve Bank of India reducing key rates. HDFC Bank has become the first private sector lender to reduce deposit rates, while other private sector banks said they would also jump on the bandwagon over the next few weeks.
Reliance Petroleum Ltd, a unit of Reliance Industries that plans to sell 1.8 billion shares in an initial public offering to raise up to $1.3 billion
rediffGURU Kirtan A Shah answers your personal finance queries.
Naina Lal Kidwai, group general manager and country head for HSBC India, does not seem to be too perturbed about the slowdown or the rising delinquency levels.
Bank employs more than 300,000 people worldwide.
It appears the two banks are now convinced that increasing their credit card portfolios will not lead to significant erosion in asset quality.
The Asian Development Bank too had projected Indian's economic growth for current fiscal at 7.4 per cent.
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According to the global financial services major, the primary concern for the RBI at the moment has to be anchoring elevated inflation expectations and stabilising the currency, which could face renewed pressures if the Fed begins QE tapering this week, as widely expected.
Gulliver had about $7.6 million pounds in a Swiss account in 2007.
The deal fell as the transaction deadline expired. RBS said that it will wind-down its banking operations in the country.
The headline HSBC India Purchasing Managers' Index -- a composite gauge designed to give a single-figure snapshot of manufacturing business conditions -- stood at 53.3 in November significantly higher from 51.6 in October.
On Tuesday, UK-based Standard Chartered's outsourcing of key banking jobs to India came under the lens of US authorities.
According to the revised forecast by HSBC, the rupee is likely to be around Rs 51 per USD (as against Rs 57 per USD earlier) by the first quarter ended March 31.
India's first quarter GDP growth print was 7.9 per cent y-o-y, primarily led by urban consumption demand
As many as 10 merchant bankers, including ICICI Securities and SBI Cap, had evinced interest in managing the stake sale.
According to HSBC, the 'storm has abated' for the Indian markets as the US Fed has deferred tapering of its quantitative easing stimulus, and as the new Reserve Bank of India Governor Raghuram Rajan has taken steps to contain the rupee fall.
HSBC on Thursday said the Indian economy, which is projected to grow at 5.7 per cent this fiscal, is likely to grow at a faster pace next fiscal at 6.9 per centfollowing the recent spate of policy reforms.
Amid decelerating economic growth and falling industrial output, India's services sector has shown signs of promise in May recording the fastest pace of growth in the past three months, says an HSBC survey.
The I-T department has been probing 240 HSBC cases where it is suspected that Indians have stashed their illicit funds abroad.
Though fiscal deficit is a concern, the country needed spending to boost the economy hit by financial crisis, she said. Going by the bank's research, Kidwai said India is likely to grow at 8 per cent in next fiscal 2010-11.
Cuts its 2013 price forecast to $1,760 an ounce from $1,850.
Stuard Milne, CEO, HSBC India talks about the bank's gameplan in the country.
HSBC Midcap Equity Fund is the latest fund to hit the 'mid cap diversified equity fund' space.
A magistrate court here has summoned the CEO of HSBC India and others to appear before it after finding that the MNC bank had "forged" documents to wriggle out of a case relating to termination of an employee.
As part of the service, UAE-based Indian immigrants can transfer money to their families based in India and the service would complement existing remittance channels and make transferring money internationally more affordable, Tata Communications said in a filing to the Bombay Stock Exchange. In the first phase, this service would be extended to over 27 lakh subscriber base of mobile services operator Idea Cellular in Kerala.
Replying to a query, whether the government has made any assessment of black money stashed by Indians in foreign countries, Jaitley said there is no official estimation of that.
The study conducted by the US-based non profit organisation Center for Public Integrity has revealed that these 25 entities accounted for a whopping 72 per cent of subprime loans during the 2005-07 period. Topping the list is Countrywide Financial Corp which shelled out subprime loans worth $97.2 billion while CitiFinancial/Citigroup Inc' is at the 16th place and had generated $26.3 billion in such loans.
'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.'
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