More and more banks are sensing big opportunity in the high-margin, small consumer loans business.
John Abraham, Kalki Koechlin are among those who run for Mumbai.
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.
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.
The National Financial Reporting Authority (NFRA) will invite public comments on the revised International Standard on Auditing 600 (ISA 600) proposed to be adopted by publicly listed companies and non-public-sector banks, sources close to the development told Business Standard. The decision to take this "graded approach" for the adoption of the ISA, which is meant to rein in auditors often found hiding behind the audit reports signed off by subsidiary companies, was taken at a meeting of various financial sector regulators at NFRA's board meeting on Monday (August 26). The idea behind upgrading the Standards of Audit 600 currently followed by Indian auditors to ISA 600 is to plug current gaps, which have led to major audit lapses in the recent past.
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
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
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.
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.
Adani Ports and Special Economic Zone will prepay $195 million of debt due in 2024 as the conglomerate helmed by Gautam Adani looks to boost investors' confidence post being targeted by a US short-seller. In a stock exchange filing, APSEZ said it will buy back $195 million of bonds due in 2024 using its cash reserves. Out of the $520 million principal outstanding, $325 million will be left after the buyback, it said.
The Ministry of Corporate Affairs has been engaging with officials from several audit firms over the past two months to streamline the process for the expansion of audit firms in the country, according to sources familiar with the matter. These discussions have involved representatives from notable firms who have independently submitted their recommendations to the ministry.
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.
India has expressed concern to the US authorities over the treatment of deportees on a flight that landed on February 5, particularly with respect to the use of shackles, especially on women. The Ministry of External Affairs (MEA) has also registered its concerns regarding the need to accommodate the religious sensitivities and food preferences of the deportees. The US side has confirmed that no women or children were restrained on the deportation flights that landed in India on 15th and 16th February, 2025.
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.
The average Indian works 46.7 hours per week, surpassing even China's 46.1 hours. In some sectors, the numbers are even more staggering.
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.
Ahead of the Mumbai Marathon, visually-impaired marathoner Henry Wanyoike shares running tips and the secrets of becoming a champion.
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.
Standard Chartered CEO-Asia Jaspal Bindra spoke to Anirudh Laskar and Sidhartha about the bank's plans and his assessment of the situation.
Several Bollywood celebrities took part in the 12th Standard Chartered Mumbai Marathon on January 18.
'The strategic direction of the relationship will not be affected. But the perception has been affected.'
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.
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.
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.
