Global banking major Standard Chartered on Wednesday said it plans to increase its headcount in India by 2,500 people during the current year to 20,000.
Banks say they themselves red-flagged the transactions to RBI. It must be noted that these transactions are not outright evidence of fraud or proof of nefarious activities.
35-year-old marathon winner Henry Wanyoike shares with us his experiences of taking on the world with no eyesight and the importance of teamwork.
Major global banks such as Standard Chartered, Barclays and HSBC have paid lesser amounts in advance tax in the third quarter of this fiscal compared to the year-ago period, while the domestic banks have paid higher amounts during the same period.
Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements. The bank is looking for a $2-billion loan book in the first five years of business.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
The IDR was trading at Rs 105.10, up 1.05 per cent, at 0956 hrs. "The Standard Chartered IDR had seen trouble during the initial response.
This will allow the bank's customers to access funds from virtually any city or town in the country. The NFS is India's largest domestic network with over 30,000 ATMs across the country and Standard Chartered's customers will now have wider coverage of ATMs available to them.
StanChart has got an approval from the RBI to list on the country's stock exchanges, but the bank is yet to approach SEBI for selling its depository receipts.
A clutch of foreign and domestic institutions has submitted expressions of interest to acquire at least 26 per cent in the Delhi-based Industrial Finance Corporation of India (IFCI).
Standard Chartered Bank is planning to aggressively beef up its presence in India ahead of the banking sector review in 2009. This number is significantly high, considering that the bank opened a mere 3 branches in the last two years. The bank has 83 branches and 231 ATMs across the country. The bank recently pumped $250 million into its Indian operations and this constitutes three-quarters of its profits in Asia.
Australia-based Westpac Banking Corporation said on Monday it would sign a cooperation agreement with Standard Chartered Bank in India on Wednesday (June 7).
StanChart's India MF business sell out to UBS has been called off.
The Standard Chartered Mumbai Marathon, to be run on January 20 next year, would be held under the banner of the International Association of Athletics Federations (IAAF).
StanChart starts retrenching staff in India.
Standard Chartered on Friday lowered India's growth forecast for the current financial year to 4.7 per cent from earlier 5.5 per cent, citing "upside risks" to inflation and fiscal deficit.
An open-ended equity scheme that plans to take advantage of the differential pricing between the cash and the future markets.
'In India, managers and the leadership almost glorify overworking.'
Already the largest foreign bank in India, Standard Chartered has sought the Reserve Bank of India's permission to open 100 rural branches, which are in addition to its annual plan of 40 new branches and 300 ATMs this year, which it has submitted to RBI for approval. The bank, which now has 83 branches in 33 cities in the country, has announced that it is investing $250 million to take its total capital base in India to $1.9 billion.
Standard Chartered Bank on Friday launched private banking operations in the country with focus on entrepreneurs and senior executives with investible wealth of over 1 million dollars (Rs 4.5 crore).
Disposals also likely, clients to be cut -CEO memo to staff
Senior officials of the Industrial and Commercial Bank of China (ICBC) have denied a report that three major Chinese banks would acquire a 17 per cent stake in the Standard Chartered bank, the Chinese media reported.
The Standard Chartered Mumbai Marathon will take place on January 21, 2007.
Standard Chartered Bank is expected to seal the deal of its Mutual Fund business in the near future.
Stanchart's plan for 100 rural branches stuck.
Foreign banking major Standard Chartered Bank has tied up with Oriental Bank of Commerce for providing agency trade services to Indian importers.
Atul Choksey, the former co-promoter of Asian Paints, has exited from Standard Chartered Mutual Fund.
Foreign banking major Standard Chartered Bank has invested $120 million thus far this year in its Indian operations, which is expected to contribute over 10 per cent of its global profits in 2005.
Standard Chartered Private Equity Fund on Tuesday said it was carrying out due diligence for evaluating the stake before arriving at investment decision.\n\n
Standard Chartered Bank is contemplating forming a subsidiary for its banking network and is scouting for acquisitions to grow its business in an effort to retain its status as the largest foreign bank in India.
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