Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
'Ratan had the quality that JRD and Russi Mody had -- they could walk with kings and never lose the common touch.'
The income tax department was committed to treat every taxpayer as honest, unless proven otherwise, and provide fair, courteous and reasonable treatment, according to the taxpayers' charter adopted on Thursday. The charter also expects taxpayers to pay taxes on time and be honest and compliant.
Starting November 12, Vistara aircraft will be operated under the Air India banner, to be identified by a special four-digit flight code beginning with "2".
Standard Chartered has appointed Zarin Daruwala of ICICI Bank as its new Chief Executive.
Policies to address CAD has worked well believes the bank's economists.
John Abraham, Kalki Koechlin are among those who run for Mumbai.
More and more banks are sensing big opportunity in the high-margin, small consumer loans business.
Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis Bank for an estimated Rs 12,325 crore. Global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of Australia have scaled down their operations in India. In a mega-deal announcement on Wednesday, Axis Bank and Citibank said their boards have approved acquisition of Citibank's consumer businesses in India by Axis Bank.
The Reserve Bank of India's (RBI) denial of permission to Swiss bank UBS to acquire Standard Chartered Asset Management Company has come as a blessing in disguise for Standard Chartered Bank.
Standard Chartered Finance Ltd, a subsidiary of Standard Chartered, UK, is hiring Team Leaders, Senior Sales Officers, Sales Officers and Tele-Sales Officers.
Retail investors should continue to invest in accrual schemes like cash and floating rate funds.
ELSS, in general, is one of the best options among the instruments eligible for tax benefits under section 80C both in terms of potential to grow as well as tax efficiency of the returns.
Diageo may not be able to recover $135 mn loan from Mallya firm
BCCI unveils 10-point diktat: Domestic cricket must, restriction on personal staff, family stay on tours
'Our attempt to honour the taxpayer has been since 2014 and more actively since 2019-2020 onwards.'
Standard Chartered Plc has seen 6 billion wiped from its market value following allegations it violated US anti-money laundering rules.
The deal underscores a growing trend of consolidation in Asia's wealth management industry.
Mumbai Marathon winners, Binning Lyngkhoi and Lalita Babbar, will represent India in the men's and women's section of the 14th Asian Marathon Championship to be held in Hong Kong (China) on February 24.
'So, we would work with our members to ensure that we as an SRO create some sort of due diligence for fintechs.'
The Central Bureau of Investigation on Wednesday sought clarifications from Standard Chartered Bank officials in connection with its probe into former Aircel chief C Sivasankaran's allegations that the then Telecom Minister Dayanidhi Maran forced him to sell his company to Malaysia-based Maxis group in 2006.
Standard Chartered Bank's aim of expanding its consumer banking business in South Asia was strengthened when it convinced Sanjeeb Chaudhuri to join the bank earlier in July.
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
Billionaire Gautam Adani's group on Tuesday said it will prepay $130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. Adani Ports and Special Economic Zone, the ports company of the Adani Group, had last month floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four as it looked to regain investor confidence by showing that its liquidity position is comfortable. In a stock exchange filing, APSEZ said an aggregae principal amount of $412.7 million was validly tendered.
The stock plummeted after the the New York state in the US on Monday night threatened to revoke its licence and charged it of $250 billion worth secret transactions with Iran.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
The District Consumer Disputes Redressal Forum said raising undue credit card bill of Rs 74,000 and putting the customer's name in defaulters' list due to which he could not avail the services of any other bank was illegal and asked Standard Chartered to desist from such activities in future.
Ahead of the Mumbai Marathon, visually-impaired marathoner Henry Wanyoike shares running tips and the secrets of becoming a champion.
Several Bollywood celebrities took part in the 12th Standard Chartered Mumbai Marathon on January 18.
Standard Chartered CEO-Asia Jaspal Bindra spoke to Anirudh Laskar and Sidhartha about the bank's plans and his assessment of the situation.
The deal, which will be signed this week, will see Standard Chartered Bank adding 170,000 cards to its existing portfolio of 1.1 million cards. The foreign lender will also become the fifth largest card issuer in the country after HDFC Bank, ICICI Bank, Citibank and State Bank of India.
While other foreign banks are still shrinking their loan portfolio, Standard Chartered Bank says it is seeing a double-digit growth
Rakesh Singh joined the non-banking finance company as chief executive officer earlier this month after a 15 year stint with Standard Chartered Bank.
The UK-based Standard Chartered Plc moved the market regulator Securities and Exchange Board of India for approval to float 220 million IDRs.
Asia-focused bank Standard Chartered has extended its sponsorship of Liverpool Football Club for two years, continuing one of the most lucrative deals in English sport.
The private bank currently has 350 relationship managers globally and the new recruitment will support planned expansion in its key markets in Asia, Europe and the Middle-East, in response to increasing demand from high net-worth individuals.
Investment banking giant Goldman Sachs has named housing loan major HDFC among world's seven best companies from the financial services space to sustain a competitive advantage in the long term, alongside global giants like Standard Chartered, HSBC and Morgan Stanley.
Besides, it is also exploring the possibility of listing itself in another emerging Asian market China, the banking behemoth said.
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.
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