"With the leverage available, I believe the scheme remains reasonably attractive," said P D Singh, India and South Asia Chief Executive Officer, Standard Chartered Bank, regarding the Foreign Currency Non-Resident (Bank) or FCNR (B) deposits.
The Supreme Court of India has quashed criminal proceedings against Standard Chartered Bank and one of its officers in a 1991-92 Foreign Exchange Regulation Act (FERA) case, citing an extraordinary 23-year delay in prosecution and the Enforcement Directorate's failure to comply with mandatory procedural safeguards.
Media reports said the decision was mutual.
We are looking to target individuals who have the potential to become high-value clients in the future. It is possible to target this segment with the help of powerful data analytics.
Sunil Kaushal, who took charge as the chief executive of Standard Chartered Bank's India and South Asia operations in February this year, however, appears confident that India will continue to remain a growth market for the bank in coming years.
Mahindra and SCM Real Estate, the investment arm of Standard Chartered, would together invest Rs 1,000 crore (Rs 10 billion) in multiple projects and hold equal stakes in the JV to be called Watsonia Developers.
Standard Chartered cuts base rate by 0.25%
As part of a cost-cutting plan, the bank is now dismantling its stock broking, equity research, and equity listing desks worldwide.
Standard Chartered said it will stop providing financing to parts of the diamond and jewellery industries as part of a review of its exposure to risky sectors.
A special CBI court in Mumbai has ordered the issuance of proclamation against billionaire jeweller Jatin Mehta, his wife, and another individual in a Rs 146.35 crore bank fraud case involving Canara Bank. The court allowed the CBI's plea to secure the presence of the absconding accused but declined the immediate attachment of their properties, citing lack of material evidence. The accused are reportedly residing in the United Kingdom.
Prime Minister Narendra Modi, addressing the SCO summit in Bishkek, called for a united front against terrorism and its financing, rejecting double standards. He emphasised resolving conflicts through dialogue and diplomacy, not battlefields. Modi also highlighted that connectivity projects must respect national sovereignty and territorial integrity, a veiled reference to China's Belt and Road Initiative. India's vision for SCO rests on security, connectivity, and opportunity.
The BRICS grouping has fully endorsed India's demand for zero-tolerance against terrorism and rejected double standards in combating the menace. Their declaration condemned terror attacks in Jammu and Kashmir and reaffirmed commitment to holding terrorists accountable under international law.
'The larger lesson for India Inc is that promoter oversight and professional management are not inherently contradictory. The difficulty arises when the boundaries between the two are unclear.'
Nora Fatehi is embroiled in a Rs 3 crore civil defamation lawsuit filed by Dunes Aviation, which claims her 'Lego airplane' comments on social media severely damaged its reputation and commercial operations.
The BRICS grouping adopted a consensus joint declaration in New Delhi, successfully navigating differences on the West Asia conflict but notably omitting any direct mention of US strikes on Iran or Iranian military attacks on Gulf Arab nations. The declaration also criticised Israel's actions in Gaza and called for a concerted approach against terrorism.
A joint report by Dell Technologies and Zinnov reveals that despite high ambition, nearly 70% of India's Global Capability Centres (GCCs) are stuck at the pilot stage for AI adoption. Foundational gaps in data, infrastructure, and governance are identified as key bottlenecks preventing the scaling of AI initiatives into enterprise-wide production. The report highlights the need for significant reskilling of the workforce and robust foundations for industrialising AI responsibly.
Reserve Bank of India Deputy Governor Rohit Jain has stated that India cannot rely solely on bank balance sheets to fund the extensive investment required for its 'Viksit Bharat' (developed India) goal by 2047, emphasising the critical need for deeper corporate bond, foreign exchange, and derivatives markets.
The Delhi High Court has mandated a six-month forensic audit into the alleged dissipation of assets by former Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh, stemming from enforcement proceedings by Japanese drug major Daiichi Sankyo.
The search for N Chandrasekaran's successor as Tata Sons Chairman has reportedly narrowed to Tata Steel CEO T V Narendran, Tata Sons Executive Director Saurabh Agrawal, and NSE MD & CEO Ashish Chauhan, with Chauhan emerging as a potential 'dark horse' candidate.
The Delhi High Court has ruled that maternity cannot be a source of ignominy at the workplace, extending statutory protection beyond employment continuity to professional status and career advancement. The court directed a private firm to compensate a woman demoted after maternity leave and urged the Centre to frame comprehensive rules for post-maternity reintegration within six months.
Hospital chain Fortis Healthcare has filed a special leave petition in the Supreme Court against a Delhi High Court order directing a forensic audit into the alleged erosion of assets by its former promoters, Malvinder and Shivinder Singh, during enforcement proceedings initiated by Japanese drugmaker Daiichi Sankyo.
India has highlighted 13 key outcomes from the recent Shanghai Cooperation Organisation (SCO) summit, focusing on enhanced cooperation in security, counter-terrorism, and addressing transnational threats. These outcomes include the establishment of a Universal Centre for Countering Challenges and Threats to Security, a strong stance against state-sponsored terrorism, and agreements on narcotics control, climate change, and artificial intelligence, reinforcing India's engagement in the Eurasian region.
Job aspirants and guest faculties in Bihar are protesting in Patna, demanding the timely conduct of the BPSC TRE-4 exam, transparency in recruitments, and the resignation of education officials. They also seek implementation of UGC regulations, increased age limits, and regularisation of assistant professor appointments, threatening further agitation if demands are not met.
A flight may be cancelled for reasons beyond an airline's control. The chaos that follows need not be, points out Air Commodore Nitin Sathe (retd).
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
In the latest Rediff series exploring non-traditional careers, Sandeep Goel, professor and dean-research at MDI, Gurgaon lists a range of high-growth finance careers beyond CA, CS, and MBA degrees.
The International Olympic Committee has provisionally lifted its ban on the Russian Olympic Committee, which was imposed in 2023. This decision opens the door for Russian athletes to return to international competitions, including the Los Angeles 2028 Olympics, though the use of national symbols remains undecided.
India's mergers and acquisitions (M&A) market is projected to maintain an annual run-rate of approximately $200 billion, evenly split between domestic, inbound, and outbound transactions, despite global geopolitical turbulence, according to Rajesh Singhi, global co-head, M&A Advisory, Standard Chartered Bank.
Salaried taxpayers should not use these forms blindly to file their income-tax returns.
Indian capital markets are witnessing a boom in IPO activity in 2025, with the current calendar year being expected to be the largest IPO year in India's history, according to India heads of foreign banks on Wednesday.
Implementation of sports bill in 6 months, regulation of participation standard safeguard: Mandaviya
The BRICS foreign ministers' meeting in New Delhi concluded without a joint statement due to disagreements over the West Asia conflict, with Iran blaming the UAE for the lack of consensus. India, as the host, issued a chair's statement highlighting the differing views.
The official statement highlighted that these "blatant Iranian attacks" have also targeted members of the Gulf Cooperation Council (GCC) and several other Arab and Islamic nations.
Following a fatal Learjet crash, the AAIB is urging the DGCA to implement stricter standard operating procedures for Visual Flight Rules (VFR) flights at uncontrolled airfields to improve aviation safety in India.
India was being evaluated for a potential weight of around 1 per cent in the index, an allocation that could have translated into $25 billion of inflows, spread over roughly 10 months.
Following a fatal plane crash in Baramati, the DGCA has grounded four aircraft belonging to VSR Ventures due to significant compliance lapses identified during a safety audit.
Bengaluru police have registered a case related to the death of Maharashtra Deputy Chief Minister Ajit Pawar in a plane crash, following a complaint by his nephew alleging a criminal conspiracy.
Pilots and aircraft maintenance engineers are responsible for planning and conducting flights, and these decisions must rely on technical judgment rather than external influence.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
