India
Punjab National launches massive financial inclusion scheme
Punjab National launches massive financial inclusion scheme
India’s Finance Minister introduced Project Namaskar to garner 100,000 touch points through 100% core banking solution.
India’s top banks expected posting 13% profits growth
HDFC eyed to lead the pack with 31% profits growth as banking sector returns to normalcy.
India’s Union Bank postpones $350mln fund-raising move
Financial crisis in Greece prompts lender to put off lender’s bond sale.
India’s central bank may save “foreign” HDFC, ICICI
Reserve Bank of India may provide them relaxation by tagging them as foreign-owned Indian banks.
HDFC intensifies online security to widen reach
Low-risk online transactions are now covered by lender’s Security Access as part of lender’s IT spending.
India’s Union Bank hires banks for bond sale
Lender’s selection of 4 banks to offer dollar bonds part of its $2bln medium-term notes programme.
India's ICICI, HDFC Bank to be treated foreign
RBI and other local banks appealed for government’s new policy on overseas investment but were rejected.
SBI hires 18,000 to mutual fund sales force
Move can make lender India’s biggest mutual fund marketing machine.
StanChart India to raise over $500mln via IDR
IDR listing will allow lender to build brand and develop business in India.
Hatton, SIB agree to improve remittance flow
Hatton National Bank signed an MOU with South Indian Bank to improve the remittance flow to India and Sri Lanka.
Union Bank partners with Belgian KBC Asset Management
Parties will invest $67mln for new mutual fund business targeted to launch in Q4 2010.
India public sector banks to open insurance business
Lenders take advantage of profitability of insurance and mutual funds operations in the long run.
State Bank of India mulls issuing retail bonds
Lender's launching of $11mln to $22mln seen as alternative way to bolster credit needs.
India plans injecting $2.1bln in public sector banks
Amount to be infused in Q1 prioritising lenders with 8% or above CAR.
3 Indian banks set to raise capital
Bank of Baroda, Bank of India and Corporation Bank eye acquiring total $1.2bln for expansion.
India asks legislators to trim State Bank stake
Selling 8.41% of its stake in lender aimed to generate $2.5bln needed for its growth.
StanChart aims India listing by end of March
Lender plans raising $750mln as it nears to become first foreign company to list in India.
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