Foreign players like Citibank, Standard Chartered Bank, HSBC and ABN Amro Bank see opportunities to spread their wings in India after the ceiling on voting rights is lifted by the government.
The Global Business Coalition on HIV/AIDS hailed its expansion from 17 to 114 companies and praised member firms like Standard Chartered Bank PLC, Tata Steel and Daimler-Chrysler.\n
The top ten men's and women's runners are expected for the Jan 18, 2004 event.
Standard Chartered Bank, which has completed 10 years in credit card business in India, has introduced an equated monthly instalment card.
To mark its 150th year of inception, Standard Chartered Bank would strengthen its presence in the country and open 23 new branches and 81 ATMs in this calendar year.
Citibank is no longer quite the king of the Indian credit card market. It has been dethroned by ICICI Bank, which now claims it has 3 million credit cards.
Private airline Air Sahara on Wednesday launched a credit card with Standard Chartered Bank as part of efforts to improve passenger traffic and boost revenues.
Standard Chartered Bank on Monday launched in India its Visa Mini card, which is almost half the size of a regular credit card, targetted at the growing young-earner segment.
Standard Chartered Bank on Tuesday announced a special variable rate offer of 7.49 per cent per annum for home loans across all tenures up to 20 years.
Standard Chartered Bank has revised upward India's economic growth to 7 per cent during 2003-04, and said fiscal deficit was not a matter of concern as long as the high growth in GDP is sustained.
Buoyed by good quality assets and liabilities of the merged entity of Grindlays Bank, the Standard Chartered Bank on Wednesday announced a 121 per cent growth in post-tax profit of Rs 848 crore (Rs 8.480 billion) for the year ended March 31, 2003.
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
At the heart of Friday's case lay an ICICI Bank loan owed by Mallya's Watson and CASL, for which Diageo stepped in as a backstop so that it could be refinanced by Standard Chartered Bank.
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
The central probe agency had filed a money laundering case to probe the deal and is carrying out the action to collect evidence under the Prevention of Money Laundering Act (PMLA), officials said.
The CBI also carried out searches at the residence and office of controversial arms dealer Sanjay Bhandari in connection with the deal
The RBI on Friday said it will give banks Rs 1 trillion through targeted long-term repo operations (TLTROs), of up to three-year maturity, to deploy in "investment-grade corporate bonds, commercial paper, and non-convertible debentures over and above the outstanding level of their investments in these bonds as of March 27, 2020."
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
Adani Wilmar's bid was approved by the committee of creditors of the bankruptcy-bound Ruchi Soya with about 96% votes in favour
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
The ministry informed the tribunal that former head of ILFS Financial Services Ramesh Chandra Bawa withdrew/transferred Rs 1 crore and Rs 14 lakh from Axis Bank accounts in two instances which are in violation of the December 3, 2018 order of the tribunal which had frozen these accounts.
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