The UK-based Standard Chartered Plc moved the market regulator Securities and Exchange Board of India for approval to float 220 million IDRs.
While other foreign banks are still shrinking their loan portfolio, Standard Chartered Bank says it is seeing a double-digit growth
Global banking major Standard Chartered on Wednesday said it plans to increase its headcount in India by 2,500 people during the current year to 20,000.
Besides, it is also exploring the possibility of listing itself in another emerging Asian market China, the banking behemoth said.
The IDR was trading at Rs 105.10, up 1.05 per cent, at 0956 hrs. "The Standard Chartered IDR had seen trouble during the initial response.
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The private bank currently has 350 relationship managers globally and the new recruitment will support planned expansion in its key markets in Asia, Europe and the Middle-East, in response to increasing demand from high net-worth individuals.
Major global banks such as Standard Chartered, Barclays and HSBC have paid lesser amounts in advance tax in the third quarter of this fiscal compared to the year-ago period, while the domestic banks have paid higher amounts during the same period.
StanChart has got an approval from the RBI to list on the country's stock exchanges, but the bank is yet to approach SEBI for selling its depository receipts.
Investment banking giant Goldman Sachs has named housing loan major HDFC among world's seven best companies from the financial services space to sustain a competitive advantage in the long term, alongside global giants like Standard Chartered, HSBC and Morgan Stanley.
This will allow the bank's customers to access funds from virtually any city or town in the country. The NFS is India's largest domestic network with over 30,000 ATMs across the country and Standard Chartered's customers will now have wider coverage of ATMs available to them.
Assets that are on the block include loans, proprietary bond and equity investments.
Standard Chartered CEO-Asia Jaspal Bindra spoke to Anirudh Laskar and Sidhartha about the bank's plans and his assessment of the situation.
Patanjali, the lone player left in contention after the exit of Adani Wilmar, had last month increased its bid value by around Rs 200 crore to Rs 4,350 crore for Ruchi Soya.
Several stars participated as well as cheered in the Mumbai Marathon.
Standard Chartered Bank is planning to aggressively beef up its presence in India ahead of the banking sector review in 2009. This number is significantly high, considering that the bank opened a mere 3 branches in the last two years. The bank has 83 branches and 231 ATMs across the country. The bank recently pumped $250 million into its Indian operations and this constitutes three-quarters of its profits in Asia.
A clutch of foreign and domestic institutions has submitted expressions of interest to acquire at least 26 per cent in the Delhi-based Industrial Finance Corporation of India (IFCI).
StanChart's India MF business sell out to UBS has been called off.
These categories rank among India's top 10 export items by value.
The Standard Chartered Mumbai Marathon, to be run on January 20 next year, would be held under the banner of the International Association of Athletics Federations (IAAF).
Already the largest foreign bank in India, Standard Chartered has sought the Reserve Bank of India's permission to open 100 rural branches, which are in addition to its annual plan of 40 new branches and 300 ATMs this year, which it has submitted to RBI for approval. The bank, which now has 83 branches in 33 cities in the country, has announced that it is investing $250 million to take its total capital base in India to $1.9 billion.
Improvements in industrial activity and services sector mainly seems to have boosted GDP growth.
Senior officials of the Industrial and Commercial Bank of China (ICBC) have denied a report that three major Chinese banks would acquire a 17 per cent stake in the Standard Chartered bank, the Chinese media reported.
Standard Chartered Bank on Friday launched private banking operations in the country with focus on entrepreneurs and senior executives with investible wealth of over 1 million dollars (Rs 4.5 crore).
An open-ended equity scheme that plans to take advantage of the differential pricing between the cash and the future markets.
Australia-based Westpac Banking Corporation said on Monday it would sign a cooperation agreement with Standard Chartered Bank in India on Wednesday (June 7).
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.
Standard Chartered Bank is expected to seal the deal of its Mutual Fund business in the near future.
Stanchart's plan for 100 rural branches stuck.
The Standard Chartered Mumbai Marathon will take place on January 21, 2007.
Atul Choksey, the former co-promoter of Asian Paints, has exited from Standard Chartered Mutual Fund.
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.
'Short term volatility is likely due to various factors, global and domestic; investors may use this as an opportunity to increase the allocation to equities.'
Foreign banking major Standard Chartered Bank has tied up with Oriental Bank of Commerce for providing agency trade services to Indian importers.
