In an apparent cost cutting measure, the Cheltenham and Gloucester (C&G), a wholly owned subsidiary of Lloyds TSB Bank, will close a mortgage and customer service centre and move about 300 jobs to India.
One of the worst hit by the financial meltdown, Lloyds has been extended billions of pounds by the UK government, which now has more than 40 per cent stake in the banking group.
Attributing to the annual report of the UK Financial Investments -- a body which manages government's stakes in banks -- the daily said the losses on the shareholding in RBS and Lloyds Banking Group had reached 10.9 billion pounds at the end of June. UKFI holds 70 per cent stake in RBS and 43 per cent in Lloyds Banking Group.
You see the products in every day life.
The all-cash transaction is likely to be complete in the first quarter of 2020, subject to regulatory clearance.
Ferrari and McLaren stand to lose millions as a result of the collapse of the Marussia Formula One team, the Sunday Telegraph newspaper reported.
A 2008-style bank run seems unlikely, but if it did happen, the sector is much better prepared.
Jaitley presents NRI award to G P Hinduja.
Apple Pay will be available in 250,000 locations across the UK.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
All of these companies are present in India.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances