The index, however has remained above the 50 mark - below which it indicates contraction - for more than three years now.
India's manufacturing sector growth improved in November, registering the fastest pace in five months, driven by a strong pick up in new orders and improved purchasing activity, an HSBC survey said on Monday.
India's manufacturing sector witnessed a slowdown in July - the weakest growth rate since November - because of moderation in domestic and export orders amid sagging global economy, an HSBC survey said.
The index has remained above the 50-mark, below which it indicates contraction, for more than three years now.
Interview with first woman president of the Ficci country head of HSBC India.
She is also a recipient of the country's prestigious civilian award Padma Shri for her contribution to trade and industry.
According to HSBC, India's current account deficit is expected to narrow from 1.1 per cent of GDP in 2014 to 0.6 per cent in 2015.
The HSBC India Manufacturing Purchasing Managers' Index (PMI) - a measure of factory production - improved slightly to 55 in June, from 54.8 in May.
A probe by the New York State's key banking regulator, the Department of Financial Services, has found deficient money laundering controls in outsourcing of work by StanChart to India, thus exposing the US financial system to terror financing and other risks.
Indians want to have a little more clarity and certainty before they invest, says Naina Lal Kidwai, Executive Director, HSBC Limited and Country Head, HSBC India.
India's manufacturing sector growth slowed marginally in February, although strong domestic orders were likely to support output expansion in the coming months, an HSBC survey has said.
It had entered the segment by pumping in over $290 million.
The SIT will ask the RBI for transaction details over 15 years
The RBI left interest rates unchanged, saying there was no substantial development on inflation or fiscal fronts to warrant a fresh reduction.
HSBC's services purchasing managers index, that maps the activity of around 400 firms, despite a 40 basis points dip, has kept above the 50 mark that signifies growth since November.
Amid decelerating economic growth and falling industrial output, India's services sector has shown signs of promise in May recording the fastest pace of growth in the past three months, says an HSBC survey.
HSBC on Thursday said the Indian economy, which is projected to grow at 5.7 per cent this fiscal, is likely to grow at a faster pace next fiscal at 6.9 per centfollowing the recent spate of policy reforms.
Wisconsin-based Dr Arvind Ahuja, a board certified neurosurgeon, wire transferred and maintained millions of dollars in bank accounts in India and the Bailiwick of Jersey at The Hongkong and Shanghai Banking Corporation Ltd, according to the indictment.
In 2008, Josephine Bhasin's bank accounts at HSBC India were valued at $8.3 million.
The IRS uses a John Doe summons to obtain information about possible tax fraud by people whose identities are unknown.
The November trip to India by United States President Barack Obama will be another clear statement of American support and commitment to the US-India relationship, Secretary of State Hillary Clinton has said.
Stuart A Davis, the chief executive officer at HSBC India, expects the Reserve Bank of India to increase repo and reverse repo rates by 25 basis points in its quarterly monetary policy review on July 27, as concerns over accelerating inflation and uncertain monsoon linger.
Economists caution that the underlying cause could be an alarming drop in demand -- something that's not good for economic growth.
Though fiscal deficit is a concern, the country needed spending to boost the economy hit by financial crisis, she said. Going by the bank's research, Kidwai said India is likely to grow at 8 per cent in next fiscal 2010-11.
HSBC India has announced a new home loan package offering to pay back part of the interest to borrowers. Yes, like the foreign bank claims, it is a first in the home loans business. But if one takes a careful look, it might not be such a big deal after all.
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fifth-largest domestically.
While public sector banks have managed to maintain a growth of over 25 per cent during the year up to February, private and foreign banks have seen their growth in loan books shrink to single-digit rates on a year-on-year basis, as against over 20 per cent at the end of September, when the credit crisis intensified.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Naina Lal Kidwai, group general manager and country head for HSBC India, does not seem to be too perturbed about the slowdown or the rising delinquency levels.
Local banks no match for foreign peers in global reach and better services.
'With technology advancing rapidly, the need for branches is declining.'
Sahara was to provide a bank guarantee from HSBC.
Mumbai, the financial capital of India, has emerged as the most risk-averse city, according to a survey, conducted by HSBC India.
The government's capex spend is expected to rise and much of this is likely to be focussed on rural India, particularly for housing, roads and irrigation.
Three Indian women -- ICICI Bank deputy managing director Chanda Kochhar, HSBC India CEO Naina Lal Kidwai and Biocon head Kiran Mazumdar-Shaw -- have been named among the world's 50 most powerful businesswomen by the Fortune magazine.
India country funds saw an outflow of $700 million
Global bank HSBC has launched a new money transfer service for Indians living in the Gulf in a bid to boost its share of the multi-billion dollar India remittance pie.
