Months after picking up 24.21 per cent stake in private sector lender Yes Bank, Japan's Sumitomo Mitsui Banking Corporation (SMBC) has received the Reserve Bank of India's (RBI's) in-principle approval for setting up a wholly owned subsidiary (WOS) in India.
India's largest IT services firm Tata Consultancy Services (TCS) on Thursday reported a 1.39 per cent increase in consolidated net profit to Rs 12,075 crore in the July-September quarter of this financial year.
The women officers have joined the Regiment of Artillery after successfully completing their training at the Officers Training Academy (OTA) in Chennai on Saturday.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
Overseas direct investment by Indian companies fell by over 53 per cent year-on-year to $1.16 billion in July 2014, as per RBI data.
The Reserve Bank on Wednesday permitted wholly-owned subsidiary (WOS) of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country.
Among other major companies, Cox & Kings made a total investment of $39.95 million in four different WOS situated in Hong Kong, Singapore and the UK.
The unfortunate thing is that the film will leave a poor impression of the IAF's and indeed of the armed forces's ability to handle sensitive social matters within their professional space, observes Lieutenant General Syed Ata Hasnain (retd).
Though most foreign banks appear reluctant to establish a subsidiary here, Citi is the only bank that has so far communicated this to the regulator, in writing.
The new entity will continue to work on technologies in areas like healthcare and education, while also looking at next-gen competencies like artificial intelligence, Blockchain, virtual and augmented reality, among others.
McDowell & Company Ltd has informed BSE that Asian Opportunities & Investments Ltd in Mauritius has become a Wholly-Owned Subsidiary (WOS) of the Company.
After delaying liberalisation for foreign banks by over a year due to global financial meltdown, the Reserve Bank on Tuesday decided to review its position by September this year in the wake of improving conditions worldwide.
British banking major HSBC on Thursday announced a consolidation exercise under which it will almost halve the number of branches in the country to 26, which will lead to 300 job losses.
The FIPB rejected two proposals -- Nigeria's Mokeme Chiwetal Izuchukwu and Lanarth Developers Pvt Ltd.
The RBI is working to nudge large foreign banks with 30 or more branches in India to get incorporated locally.
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