UK-headquartered Standard Chartered Bank is set to become the third foreign player to enter the Indian retail stock brokerage business by buying a 49 per cent stake in UTI Securities for Rs 140-150 crore.
Scope International, a wholly owned subsidiary of Standard Chartered Bank, is planning to get its additional facility at Chennai ready by this November, a top official of the company said in Chennai on Monday.
According to an investment banker, apart from other international suitors, the Indian companies such as Godrej and Marico too have been approached for picking up the stakes in the home and personal care products company.
Even as the market remained flush with liquidity, banks were in no mood for subscribing to fresh corporate bonds or commercial papers ahead of the annual policy review. According to market dealers, the 10-year, AA-rated bond issue of Tata Power to raise funds devolved on its lead arranger Standard Chartered Bank. The bank did not offer any comment when contacted.
The amount was handed over to Maharashtra Governor S M Krishna at a function by event partner Give India.
A civil court on Tuesday ordered Standard Chartered Bank (StanChart) to pay "exemplary" damages of Rs 2.5 lakh to Vinay Kumar Sood who was constantly harassed and insulted for not paying dues on a credit card he neither received nor utilised.
Infrastructure Development Finance Company has bagged Standard Chartered's asset management business in India for a total consideration of $205 million (around Rs 820 crore) in an all-cash deal. This deal, like the ill-fated UBS' bid last year, however, does not include StanChart's mutual fund distribution business, which the London-based bank will continue to pursue in India.
Standard Chartered Bank, the country's second-largest foreign bank, is removing the ceiling on its India exposure to tap into the 9 per cent economic growth and expand operations, especially in infrastructure funding.
Defending champion John Kelai of Kenya and twice winner Mulu Seboka won the men's and women's titles respectively in the Mumbai Marathon, while Ramsingh Yadav emerged the fastest Indian runner.
The Kenyan elite runners said they faced a lot of problems in their preparation for the run due to the ongoing crisis in their country.
India CEOs of 12 banks form pressure group within IBA.
Mumbai Marathon Race and Finish director talks about all that goes into conducting the 42.195 kms race.
Film stars and models will represent different NGOs during the Standard Chartered Mumbai International Marathon on February 15.
Claiming that the sub-prime crisis in the mortgage market has not affected the bank, Standard Chartered Bank chairman Mervyn Davies said the crisis was not yet over and it would take few months to tide over. "Sub-prime crisis has been a real shock, though Asian markets like China and India have remained unaffected. It is not yet over and it may take few more months before the crisis is over," said Davies, who is in India to attend the bank's board meeting.
Fresh meat and seafood delivery unicorn Licious is intensifying its talent acquisition endeavours as it pursues profitability and readies for an initial public offering (IPO) within the next 24 months. Delightful Gourmet, Licious' parent company, has named 39-year-old Karishma Gupta as its new chief financial officer (CFO). Her appointment aligns with Licious' drive for profitable growth through an omnichannel strategy.
We are focusing on how to make banking affordable for the customer. The bank is bullish on retail business, says Suresh Gurumani.
The duo lead the field in the opening round of the Enjoy Jakarta Standard Chartered Indonesia Open.
The British Olympic track and field legend shared his expertise on what it takes to be a long distance runner.
Cooler temperature and less humidity could see marathoners clock sub 2:15, says organiser of the Mumbai Marathon 2005.
The organisers have, however, managed to rope in three athletes who are ranked among the top twenty marathoners in the world.
IDBI Bank, UTI Bank, Citibank and Standard Chartered Bank on Wednesday came together to launch an independent shared automatic teller machine network, covering six million cardholders in 100 cities of India.
Country's leading domestic and multi-national banks figured among the top 10 advance tax paying corporates in Mumbai in 2006-07.
2006-07 saw mixed returns for mutual funds. Compared with the previous financial year, the returns have declined, mainly due to a fall in the stock prices. The net asset value of most equity funds fell nearly 10 per cent since January 2007.
The Kenyans will be the favourites among men, while the Russians are expected dominate the womens race.
