"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.
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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.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
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.
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.
Salaried taxpayers should not use these forms blindly to file their income-tax returns.
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.
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.
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
Pilots and aircraft maintenance engineers are responsible for planning and conducting flights, and these decisions must rely on technical judgment rather than external influence.
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.
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.
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.
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.
'We are getting used to the constant alerts to take shelter, listening to sonic booms from jets flying above us, hearing news of neighbouring ports being targeted, and being the only ship in the terminal.'
'Storytelling will never change.' 'As long as storytelling can be unpredictable... AI cannot tell you an unpredictable story.'
'In any aviation emergency, the first rule is aviate -- fly the aircraft.' 'The fact that the commander's voice is not on the recording simply means he was focused entirely on flying. It does not imply anything more than that.'
The Black Box of the Learjet 45 aircraft that crashed near the Baramati airstrip on Wednesday has been recovered, the Civil Aviation Ministry said.
Companies would have to recognise the increase in gratuity liability arising from new labour codes in their interim financial statements and results for the period ending December 31, the Institute of Chartered Accountants of India (ICAI) has said in its FAQs on the new labour codes.
'Trade deal will act as a strong trigger for market sentiment, not just for domestic investors but also for FIIs.'
Under Usha and Narang, the National Olympic Academy will "collaborate" closely with the International Olympic Academy in Olympia, to "align India's Olympic education programmes with the Olympic Charter and international best practices."
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
Residents of Ahmedabad recall the Air India crash of June 2025 after news of the Baramati plane crash involving Maharashtra Deputy CM Ajit Pawar. The earlier tragedy, which killed hundreds, remains a painful memory for those who witnessed it and lost loved ones.
The Learjet 45 (LJ45), a mid-size business jet aircraft produced by the Learjet Division of Bombardier Aerospace, went off the runway while attempting to land at Baramati airport and burst into flames.
'India is a big market for StanC, and it is also fastest growing economy in the world.'
India and Russia have called for an uncompromising global fight against terrorism without hidden agendas and double standards. Prime Minister Narendra Modi asserted that the menace is a direct attack on the values of humanity.
'IndiGo will receive a sharp rap on the knuckles -- a punishment, a huge penalty. 'I look towards them creating a compensation fund.' 'I would like to think they would do that for all the passengers who are affected on every single day since cancellations began.'
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.
They weren't up for a windfall even after the trophy but life was certain to get a lot better as some sponsors and state governments stepped up to lift them financially.
The Indian government reveals that the United States has deported over 18,000 Indian nationals since 2009, with a focus on human trafficking investigations and concerns over the treatment of deportees.
