India

HSBC is in the final stages of acquiring the bulk of the Royal Bank of Scotland's Indian business. HSBC expects the Reserve Bank of India, the central bank, to approve the takeover within the next two weeks. Both banks are expected to confirm the approval in separate statements. HSBC will then take ownership of most of RBS's 30 branches in India. The deal, first announced in 2010, is likely to see HSBC pay some US$109 million for RBS' business, which also includes RBS's commercial banking operations in India. The sale is part of RBS' ongoing efforts to reduce its international business to comply with tougher banking rules in the Eurozone. RBS, however, will retain an investment banking presence in India.

India's state-run banks has been directed by the Finance Ministry to assess capital requirements, including investments in JVs or subsidiaries.

HSBC is in talks with investors to sell stakes in Karnataka Bank and Federal Bank to free up capital to meet the stringent Basel III norms.

The staff of HSBC India have come under the scanner for deficiencies in acting as "offshore reviewers" against money laundering and terrorist financing.

Swarnamahal Financial Services hopes to establish five more new branches during the new financial year, mainly to improve accessibility to its services in the North and East. The North and East showed exceptional growth during the financial year with strong demand at existing branches in Vavuniya, Jaffna, Batticaloa and Trincomalee.

State Bank of India will open up 56 Ultra Small Branches in 5 districts of Assam and one district of Manipur by the end of this month.

Mian Mohammad Mansha is keen about providing banking services in India.

Banks' credit grew just 1.2% in the first quarter of the fiscal year that began in April.

Citi is gauging public reponse about offering banking transactions through Facebook.

CIMB will not proceed with plans of acquiring RBS India assets due to "unexpected" legal hurdles.

HDFC reported 18.6 percent net profit at Rs.10,019.10 million for the quarter ended June 30 against Rs.8,445.30 million in the same period last year.

The deficit caused by rainfall has not caused any major worry on credit offtake for Dena Bank, although it could be a problem if it worsened.

India's public sector banks added about 5,000 branches in 2011-12, estimated to benefit seven crore customers in the country.

Union Bank of India intends to open three overseas branches by early 2013 to achieve this goal.

Indusind Bank has been slapped a Rs 15 lakh by ther Insurance Regulatory and Development Authority for violating corporate agency norms.

Union Bank of Colombo will be introducing a new state of the art Core Banking Solution that adds further value to improving its management processes and service delivery.