The Reserve Bank of India has put on hold its permission to the Switzerland-based UBS Bank to open a branch in India as the Enforcement Directorate is probing alleged transfer of funds between Pune-based stud farm owner Hasan Ali and a Saudi Arabian arms dealer through the bank.
The survey noted that the highest growth rates for gross domestic product were recorded by China (10.7 per cent) and Taiwan (9.1 per cent).
Sources close to the developments said the company would announce the deal any day. Morgan Stanley is advising Standard Chartered on the deal.
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