HSBC Holdings will close its private banking business in India through which it manages assets of ultra high networth individuals. The process is expected to be completed in the first quarter of 2016, the bank said.
HSBC Holdings Plc will shut its private banking business in India, a spokesman said, marking the exit of another foreign bank from the cut-throat business in Asia's third-largest economy.
Country's largest lender State Bank of India (SBI) is finalising plans to set up a subsidiary for managing its large portfolio of real estate properties and those taken on lease
In a boost to micro finance borrowers, the Reserve Bank of India (RBI) has raised borrower limit to Rs 30,000 for short duration (less than 24 months) from the existing
Indian banks are stable but there will be challenges ahead for state-owned banks given weak core capitalisation and slow earnings recovery, Fitch said today.
"Capital-raising will be a key theme
- Nov23By Mukesh Jagota & Falaknaaz Syed
Banks have full authority and autonomy to deal with wilful defaulters, finance minister Arun Jaitley said on Monday, while asking them to speed up the process of cleaning up their balance sheets.
With digital banking and less-cash economy fad catching up banks seem to be going a bit slow in adding ATMs. Only six new ATMs were added to the
- Nov21By PTI
Qatar-based Doha Bank today said it plans to open more branches in India and double exposure to USD 5 billion in next three years.
"As on date, our exposure is
- Nov19By PTI
Major banking transactions took a hit today as over 17,000 employees of RBI went on 'one-day mass casual leave' protesting against reform measures of the central government and seeking better
The country's microfinance industry witnessed 28 per cent rise in client base to 2. 63 crore in the second quarter and the aggregate gross loan portfolio (GLP) of MFIs grew