StanChart to hand over pink slips to its employees in India too.
SBI, which has been operating in the UK for 95 years, said it is prepared to set aside 100 million pounds in ring-fenced capital and restructure its operations if that is necessary to keep operating on the high streets.
The survey was based on the survey of 44 banks.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
There will be different ways of returning the money, depending on the profile of the depositors and the amount, predicts Tamal Bandyopadhyay.
'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
HSBC Holdings Plc will shut its private banking business in India, a spokesman said
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Addressing a media conference in connection with its forthcoming public issue, V Vaidyanathan, head of retail banking, ICICI Bank, said that the the bank is poised to tap the opportunities available in these two sectors too.
Chanda Kochhar, became ICICI's first female CEO in May of 2009 - right in the thick of the global financial crisis - not an easy time to be the boss of a bank.
i-flex solutions has entered into an agreement with Norway-based EDB Business Partner ASA to jointly offer retail banking solutions to financial institutions in the Nordic region, primarily in Sweden, Finland, Denmark and Iceland.
HDFC Bank has been awarded 'The Asian Banker Excellence in Retail Banking Risk Management Award' in India for 2004 in recognition of its risk management abilities.
Puri gave up the comforts of Citibank to set up a new-age bank from a rat-infested room in the Kamala Mills Compound in Worli, Mumbai and build a marquee brand. A look at his 26-year stint as HDFC Bank's boss.
"We are looking at a 16.50 per cent growth in advances and 15 per cent in deposits in 2004-05. For this, we will focus on retail banking, project uptech, infrastructure and international trade," SBI Chairman and Managing Director A K Purwar said.\n\n\n\n
Lower revenue, rise in costs, higher provisions hit earnings in a subdued growth environment.
At a time when most foreign banks in India are looking at opening more branches, British lender Barclays has decided to close three of its nine branches in the country.
The state-owned bank also disclosed in the report that its overall staff strength declined by 7,452 employees during the last fiscal, but it has decided to recruit 9,500 clerical staff during 2012-13 to meet the growing needs of the bank.
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.
Be aware of the new charges being introduced and transact online to save on costs
Earning money is important, no doubt, and everyone knows it. What escapes many a soul is that what you do with that hard earned money is equally, if not more, important.
The introduction of more technology platforms has also helped.
Paying for facilities like issuance of demand drafts, cheque books, credit or debit cards and ATM interchange may soon become passe as public sector lender IDBI Bank on Wednesday waived-off all service charges on current and savings accounts (CASA), the first by any bank.
A full rollout of the products will be completed by March 2011 and the UK branch of SBI will be adding three branches over the existing seven to push its retail agenda. With this, SBI will take on local heavyweights in the mortgage segment such as HSBC, Barclays, NatWest, Lloyds and RBS.
Latest figures for HDFC Bank aren't available.
Earlier, Russia's number 2 state-owned VTB bank had opened a branch in India.
With a brand value of $14.5 billion, the Indian bank ICICI is the first Indian brand to feature in the BrandZ Top 100.
Rising delinquencies and non-performing assets in the credit card business are forcing banks to reorient their outlook, from an aggressive sales strategy to inducting people who will focus on recovery and cleaning up the portfolio.
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Currently, the Shannon Development Centre employs over 200 professionals, delivering IT and business process services' offerings to marquee retail banking and insurance customers across Ireland and the UK.
Sunil Mittal's race up these rankings to No. 2 marks a triumph of core competence over diversification in India.
"We have a number of plans on partnerships..we are in discussions...to work with people having competency, to bring more services to customers...," Citi India's Country Business Manager (Global Consumer Group), P S Jayakumar, told reporters on the sidelines of a press conference in Mumbai on Thursday. Jayakumar said the bank is looking at tie-ups in the areas of product distribution and technology, without, however, divulging further details.
JP Morgan Chase is planning to slash nearly 21 per cent of workforce and lay off 4,000 employees by January at Washington Mutual, which was acquired by the investment banking major in September.
German insurance giant Allianz is planning to widen base in India with foray in banking business through its unit Dresdner Bank, besides expanding its existing non-banking financial services.
The Allianz Group, the German financial services powerhouse, is planning to foray into the booming asset management business in India.
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