ICICI Bank Ltd has set up a wholly owned banking subsidiary in Canada that would offer a range of products targeted at retail and commercial clients.
ICICI Bank has enhanced its international presence by opening two new branches, one in UK and another in Canada, as part of plans to increase share of its global business.
If there is a decline in the number of Indian students pursuing higher studies in Canada due to the ongoing diplomatic tensions between the two countries, it may have implications for Indian banks operating in the North American country, senior bank officials said.
India's largest private sector lender ICICI Bank is looking at possibilities of acquisitions in Britain, Canada or Germany to expand its overseas business.
Move comes as stringent regulation chokes biz growth.
The branch is likely to be inaugurated on Saturday by Prime Minister Narendra Modi, who is on a three-day visit to China
Hari Pandey, who founded ICICI Bank in Canada in March 2003, is among the 11 awardees in various categories who would be felicitated at function here on Saturday, ICCC said.
Bank dismisses mis-selling charges, says lawsuit filed after it initiated legal recovery action over loan default
The Non-Resident Indians (NRIs) living in the US, UK, Canada and Singapore can now avail the benefit of a lesser tax deduction on their Non-Resident fixed deposit with ICICI Bank, a top bank official said in Mumbai. The NRO FD Plus offers the benefit of concessional rate of tax deducted at source (TDS) under the Double Taxation Avoidance Agreement (DTAA) of India with these countries, ICICI Bank General Manager and Head NRI Services Manish Mishra said.
It will help customers raise the eligible amount by up to 20 per cent and increase the tenure by up to seven years.
He established the Miss Canada-India Beauty Quest in 1990.
Indian banks have the potential to go global, says ICICI Bank chief Chanda Kochhar.
After receiving the award, Chanda Kochhar said, "As I see the list of past recipients of this honour, I feel inspired to be counted as one among them.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
HDFC Bank, which is set to overtake India's largest private sector bank ICICI in branch network by merging Centurion Bank of Punjab with itself, is now keen to expand overseas to tap the non-resident Indian market. "We have applied for licences in Bahrain and Hong Kong. We have a representative office in Dubai, while CBoP has one in Canada," HDFC Bank Managing Director Aditya Puri said.
The government is planning to extend the electronic modes of tax payment to its own payments platform, Unified Payments Interface (UPI), credit cards of banks, or even a mobile wallet like Paytm.
'If she contests it, then these people will have to fight it in court.'
The Sensex ended higher by 245 points at 27,372 mark and the Nifty gained 66 points at 8,225.
Fairfax Financial Holdings made three investments in a month
After sight-seeing the Taj Mahal in Agra and the Sabarmati Ashram in Ahmedabad, Canadian Prime Minister Justin Trudeau got down to work in Mumbai. He, along with his wife Sophie Gregoire Trudeau and three kids -- daughter Ella Grace and sons Hadrien and Xavier - arrived in the country's financial capital on Monday night. Here are snapshots from Day 3 of their visit.
The S&P BSE Sensex plunged 301 points to close at 25,490 and the Nifty50 fell 86 points to end at 7,815.
Bharti Airtel, HDFC, ONGC, ITC and CIL emerged as the top gainers.
The IIT-Madras alumnus, who moved to Canada for an MBA programme and settled there, is not new to investing in India.
Sun Pharma was by far the biggest gainer in the Sensex pack, surging 8.13 per cent, followed by Dr Reddy's at 4.92 per cent.
In its latest transition, the company will also double up as an investment vehicle.
The Sensex ended down 251 points at 27,351 and the Nifty shed 65 points to close at 8,228.
Top gainers from the Sensex pack are Asian Paints, Bajaj Auto, ITC, NTPC, L&T and HDFC, all up 2% each
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The benchmark Nifty rallied 1,000 points or 17% from 7,000 in 78 trading sessions since May 12, till date to surpass the 8,000 mark.
The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
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The 30-share Sensex ended 117 points higher at 26,560 and the 50-share Nifty gained 31 points to end at 7,936.
