Even after the split, UTI Mutual Fund continues to hold the largest market share of 14.47 per cent closely followed by ICICI Prudential, HDFC Standard Life and Templeton in the over Rs 1,00,000 crore (Rs 1,000 billion) industry.
Apart from SBI, the consortium will include leading entities like Citibank, Standard Chartered, BNP Paribas, JP Morgan, Tokyo Mitsubishi UFJ and Mizuho Financial Group, a source closely connected to the development told PTI. The country's largest lender is also in talks with two-three public sector banks to be a part of the consortium, the source said. The company reported a loss of $12.7 billion for the fiscal ended December 30, 2006.
Ethiopia's Gashaw Melese was second and countryman Tariku Jufar third.
Finance Minister P Chidambaram asked Britain on Thursday to allow Indian banks to open more branches in that country.
RBI has granted permission to Standard Chartered bank to buy American Express Bank for its American Express credit card biz.
According to an industry analyst, the telecom infrastructure sector needs over $20 billion, while the passive infrastructure segment needs an investment of over $12 billion.
Following the AMFI approval, these entities would be given the clearance by CDSL Ventures Ltd, the nodal agency for MIN issuances.
Kenya's Denis Ndiso and Ethiopia's Bizunesh Mohammed won the men's and women's titles respectively in the $310,000 seventh Standard Chartered Mumbai Marathon on Sunday.
Women marathon runners are likely to set a new course best in Sunday's Standard Chartered Mumbai Marathon, according to Elite Athlete co-ordinator Ian Ladbrooke. 'We have a strong field and I am very optimistic of a new record in the women's race by a big margin,' said Ladbrooke in Mumbai on Thursday, ahead of the US $310,000 prize-money run.
The high-profile bidding war for control of Hutch-Essar could intensify with reports in the British media suggesting that Indian partner Ruias have received funding pledges worth up to $25 billion to buy out foreign stakeholder Hutchison Telecom.
The Ruias have received overwhelming response from international banks for funding of their proposed bid to pick up Hutchison's 67 per cent equity stake in Hutchison-Essar Ltd, in which they hold the remaining stake.
Captive centres set up by multinational corporations in India are posing a serious threat to the domestic outsourcing companies.
Making cash payments at bank counters to settle your credit card dues is getting expensive. Credit card issuers led by ICICI Bank and HDFC Bank have started levying a fee on such payments.
Kenyan pacesetter Gideon Kipketer won the men's race in an all-East African clean sweep of the podium by setting a new course record in the 13th Standard Chartered Mumbai Marathon on Sunday.
Standard Chartered Bank, which bought a 49 per cent stake in UTI Securities from Securities Trading Corporation of India early this year, is likely to hive off the commodities broking business into a separate company and put this division for sale.
Indian entrepreneurs who made global acquisitions are bullish since they've achieved margin expansions which were even higher than what they'd originally anticipated, and global managements have accepted Indian shareholders very well.
The fifth Mumbai Marathon has enhanced its prize money to USD 2.4 lakh and has attracted 40 of the world's top 100 marathoners.
In the final part of this five part series on top 25 mutual funds analysed by Value Research we produce the last best five mutual funds that investors can put their money in for the long term.
The ministry informed the tribunal that former head of ILFS Financial Services Ramesh Chandra Bawa withdrew/transferred Rs 1 crore and Rs 14 lakh from Axis Bank accounts in two instances which are in violation of the December 3, 2018 order of the tribunal which had frozen these accounts.
Private equity-backed Kosmos, which has received a total of $800 million in financing from Blackstone and Warburg Pincus, has hired Standard Chartered and Barclays Plc to sell its stakes in the offshore Jubilee oil field. A potential sale of Kosmos' stake in the Jubilee field is being closely watched as the asset is one of the largest oil finds in West Africa in the past decade.
Commercial banks are moving swiftly to strengthen and expand their operations to service the companies responsible for soaring trade levels between India and China.
The star batsman and his wife Anjali would take part in the 'Dream Run'.
Standard Chartered Bank on Monday announced key changes in the top management of its global positions.
The sixth Standard Chartered Mumbai Marathon, carrying a prize fund of US $250,000, will be held on January 18, 2009. Registration for the annual run opens on July 10.
The second edition of the event will be held on January 16.
The Enforcement Directorate had invoked Section 68 of the Foreign Exchange Regulations Act against a number of top executives of the banks.
Mumbai Marathon race director Hugh Jones said the only thing the runners might have to worry about would be the weather of the city.
'Make Trade Fair', an international movement to prevent exploitation of artisans and farmers in underdeveloped countries, announced their participation in the Mumbai Marathon.
EMI card is a unique installment concept, wherein you have the option of paying a fixed amount every month subject to the purchase limit you enjoy.
The Delhi State Consumer Commission has imposed a penalty of Rs 10 lakh on Standard Chartered Bank for harassing and threatening an advocate with the help of 'muscle men'
After having raised Rs 20,000 crore by selling NFOs, mutual funds are now likely to turn buyers. A slew of funds, including Morgan Stanley ACE Fund, Birla Sun Life Pure Value Fund, Mirae Asset India Opportunities Fund Standard Chartered Fund closed recently. Mutual funds launch NFOs to raise money since the mutual fund penetration in India is low. Most mutual funds expect redemptions on account of advance tax provisioning that corporate houses do at this time of the year.
Finance Minister P Chidambaram has urged Britain to allow Indian banks to open more branches in that country.
The Reserve Bank of India (RBI) has issued a restricted banking licence to American Express Bank (Amex) to conduct credit card and travel-related businesses in India.
A consortium of bankers that will fund the Ruias' bid for Hutchison's 67 per cent equity stake in Hutchison Essar Ltd will begin "due diligence" on the company in the next few days
Union Finance Minister P Chidambaram said in the Lok Sabha the Reserve Bank of India and the Securities and Exchange Board of India have taken up corrective measures in the IPO scam.
An elite athlete field of 40 of the world's top 100 long distance runners for the Standard Chartered Mumbai Marathon.
