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Money laundering by banks: ICICI, HDFC Bank, Axis say.
Reuters@ibnlive. Mumbai: Top private sector lenders ICICI Bank, HDFC Bank and Axis Bank said they were investigating allegations of widespread money laundering practices at their branches. The shares of the banks fell briefly on Thursday after the. Bahal, founder and editor-in-chief of Indian news and opinion website Cobrapost.com, said he had collected hundreds of hours of video recordings from dozens and dozens of bank branches across the country.
Burnt In Downturn, Indian Banks Revive Plastic Push.
BY Reuters. Lenders in India say a focus on higher-end customers will be key to the success of a second credit card push. India banks are pushing plastic again, hoping that credit card sales will lift profits in a market where the. Foreign banks lack the branch networks of local lenders like ICICI and HDFC, Indias biggest card issuers, but tend to attract the most well-heeled customers in a country where incomes are rising fast as the economy grows 8 per cent a year.
Banking stocks surge in September; analysts. - Reuters
After falling for four consecutive months, Indias banking stocks have surged in September on value buying and recent measures announced by the new Reserve Bank of India chief, but analysts remain cautious. On his first day in office, RBI chief Raghuram Rajan announced measures to prop up the rupee and liberalise the banking system, including higher overseas borrowing limits for lenders and simpler branch opening processes. The BSE banking index has��.
Wikipedias biggest impact yet to come - IBNLive
Wikipedias impact on the world has yet to peak as the open online encyclopaedia aims to double its reach, mainly through expansion in developing countries, founder Jimmy Wales told Reuters.. One of the problems we have today is that we are sometimes a little bit slow in India and China. The access times are slow because we dont have enough servers there, he said... ICICI Bank cuts home loan rate by 0.25% �� Why the dream run in Hong Kong stocks will��.
Dangerous Games of Chicken - Credit Bubble Bulletin
The standoff could see Greek banks effectively excluded from European Central Bank liquidity operations and the government with no source of funding, having rejected EU aid while still shut out of international markets.���... January 27 ��� Bloomberg: ���The Shanghai branch of the China Banking Regulatory Commission asked local lenders to conduct their widest-ever stress tests on exposure to the real-estate industry, according to people familiar with the matter.
ICICI chief defends Indias banking regulations - The world.
Alongside China, India is regarded as one of the worlds most promising markets for international financial services groups, it said. However, the. International lenders are allowed to open branches in the country, but they account for a fraction of Indias total commercial banking network because of tight government restrictions on branch expansion.. His comments came as ICICI opened its first branch in Hong Kong this week as part of an international growth drive.
Whats not to like? �� Banking Technology
In September 2013, Icici Bank in India launched a Facebook app that lets customers pay their friends and share expenses between groups of people on Facebook. The Pockets by Icici Bank app evolved from the banks Your��.
ICICI Bank joins rate cut war; cuts home loan rate by 0.25%
As banks have kicked off an interest rate war on home loans, the ICICI Bankon Tuesday announced reduction of home loan rates by 25 basis points for all existing and new customers. ���With this announcement, women as well as applicants from weaker .
Warren Buffett Stocks Blog: 10 Best Bank Stocks For 2015
First Commonwealth Financial Corporation operates as the holding company for First Commonwealth Bank that provides consumer and commercial banking services to individuals and small and mid-sized businesses in central and western Pennsylvania. The company offers... The I-Express facility offers the remitter an option of visiting any partner outlet for instant credit into the beneficiary account maintained with ICICI Bank in India, at no extra cost. The Company��.
India in 2008: The year that was - Reuters
While Indias top private lender ICICIs share price dipped more than 70 pct as concerns arose over the health of its books, IT major Satyam Computer Services faced some tough questions about corporate governance after a botched attempt to buy two of its.. To start I will recommend you to read dawn.com a pakistani news site, read editorials and guest column from that. you will get better idea what pakistani intellectuals think. also read wikipedia for neutral views.
UPDATE 2-Indias Kotak bank buys ING Vysya in record $2.4 bln share deal
Merged entity to have 1,214 branches across the country. * Deal to close in. MUMBAI, Nov 20 (Reuters) - Indian lender Kotak Mahindra Bank has agreed to buy ING Vysya in an all-share deal valuing its smaller rival at $2.4 billion, bulking up as.
ICICI Bank posts record Q2 profit, but bad loans rise
Indian banks are expected to post a 16.4 percent growth in revenue and a 22 percent growth in net income over the next 12 months, according to Thomson Reuters SmartEstimates, which emphasises recent forecasts by top rated analysts, in what is the .
Barclays drops on lower pre-tax profit and higher provisions for potential fines
Barclays stock was trading 2.69% lower at 9.45am in London, after opening lower, on the news that the lender reported a 21% decline in statutory pre-tax profits. The firm said it. The bank sequestered a total ��1.7bn for provisions in 2014. That.
The New ���Water Barons���: Wall Street Mega-Banks are.
In this regard, JPMorgan is joined by Citigroup, the Blackstone Group, 3i Group (Europes second-largest private-equity firm), and ICICI Bank (Indias second-largest bank) (International Herald Tribune, October 31, 2007). Its JPMorgan Asset Management has also established an Asian Infrastructure and Related Resources Opportunity Fund which held a first close on U.S.$500 million (���333 million) and will focus on China, India, and other Southern Asian countries, with��.
Govt. freezes Greenpeace accounts
Citing various grounds for the suspension of the FCRA registration of Greenpeace India and the freezing of its accounts, the Union Home Ministry on Thursday alleged the organisation did not inform the authorities concerned about transfer of foreign.
Puff, not wind of change for foreign banks in China in 2015
ICICI Bank, Indias largest private lender, said last year that it has gained regulatory approval from Indian and Chinese regulators and plans to open its first branch on the mainland. ABN Amro, the now-state-owned Dutch bank, has once again applied.
Indias ICICI bank opens first branch in China
ICICI, which is also traded in New York, said the Shanghai branch got regulatory approval in March 2015. Initially, the branch inaugurated by Indian Prime Minister Narendra Modi during a three-day visit to boost economic ties, will have 17 staff. China.
Solar ATMs changing the face of banking in India - CNBC.com
INDIA ICICI BANK. Amit Bhargava | Bloomberg | Getty Images. A small startup, a frugal mindset and a disruptive technology are shaking up the rural banking scene in India, giving 300 million dwellers a chance to get a bank account.. In spite of a robust banking infrastructure and a government aim to include the rural economy into the mainstream, only 5 percent of 600,000 villages have a commercial bank branch and just 2 percent of people living in rural India have��.
Dharavis once-booming leather industry losing its. - Reuters
The availability of Chinese goods in the Indian market is a major concern for Dharavis retailers, who showcase leather bags, jackets and belts on wall shelves and doors to woo customers. Harish Jaiswal manages one of over 100 such stores on a street near Mumbais sprawling Bandra Kurla Complex, a commercial centre that houses corporate giants such as Citibank and ICICI Bank. ���Today I have not sold anything. There are shops here which dont sell anything for��.
Vince Cable to meet UK bank bosses about rural branch.
Half of UKs bank branches have been closed since 1989, according to figures compiled by community banking campaigners.. The Business Secretary Vince Cable is to investigate closures of rural bank branches(Reuters). Business secretary Vince Cable is. Chinas crude oil purchases are expected to remain robust despite slowing economic growth. Thai baht falls to new. India nominates banker KV Kamath as first chief of Brics New Development Bank. Kamath��.
Co-operative Group returns to profit
2013 was not a good year for the group, which saw its banking arm engulfed and brought to the brink of collapse: a ��1.5bn capital black hole came to light when it tried to acquire hundreds of branches from Lloyds. The Co-op brand suffered when the bank.
Stock Options, New Blood as SBI Gets Ready for Change
Areas like credit, risk, human resources, IT of course, economic research, analytics: wherever we have specialised areas, we can get people laterally on a contract basis, she told Reuters in an interview. This is a departure for. S.S. Mundra, who.
The New ���Water Barons���: Wall Street Mega-Banks are.
Additionally, Chinas acute water shortages and serious pollution could ���buoy demand for clean water for years to come, with Chinas $14.2 billion water industry a long-term investment destination��� (Reuters, January 28, 2008). The City of Reno,.. In this regard, JPMorgan is joined by Citigroup, the Blackstone Group, 3i Group (Europes second-largest private-equity firm), and ICICI Bank (Indias second-largest bank) (International Herald Tribune, October 31, 2007).
Prudential and Indias ICICI Bank may sell stake in insurance JV at $5.8bn.
Morgan Stanley and Bank of America Merrill Lynch have been mandated to bring in investors. A deal could value ICICI Pru at anywhere between $4.84bn (��3.15bn, ���4.24bn) and $5.81bn, The Economic Times reported. A deal could be a precursor for an .
Singapore firms to invest in $16 bln China farm project
Fullerton, another wholly owned Temasek unit, holds stakes in several Asian banks including Indias ICICI Bank and South Koreas Hana Financial Group. Village banks are rural financial institutions that licensed can collect��.
CNH Tracker-Regulators, banks act to counter cash tightness ahead of Chinese.
China Citic Bank International started to offer its existing depositors a return of 4.1 percent for three-month yuan deposits on Wednesday, after it provided preferential rates for new clients last week. Indias ICICI bank also hiked its one-year yuan.
ICICI Bank Shares to Outperform Peers in Next 12 Months
Many brokerages recommend investors to buy ICICI bank shares as value investing will drive the stock prices higher.. Expected to be ready by 2019, the facility will be the first company-owned campus in Asia. Hyderabad to��.
HSBC confirms CEO Stuart Gulliver holds Swiss account
HSBC has said its chief executive, Stuart Gulliver, holds a bank account in Switzerland that was set up in 1998 to hold bonus payments. A spokeswoman for the bank provided details of the account and of other matters related to Gullivers tax status.
Manufacturing PMI rises in March as new orders pick up
Manufacturing activity in the country rose in March over the previous month on the back of output growth and increase in new orders, but was lower than January, showed the widely tracked HSBC purchasing managers index (PMI). Ahead of the Reserve .
US-based Mirach Capital rejects Sahara accusations of forgery
Initially, Mirach Capital Group reached a deal with Sahara to provide a structured loan package, including taking over the debt on the foreign assets from Bank of China, and a sale of the Indian assets. Consistently, Mirach has been interested in an.
RBS in global retreat as it reports ��3.5bn loss for 2014
He replaces Donald Workman, who has been appointed executive chairman of RBSs private banking franchise, Coutts, Reuters reports. The banks chief executive Ross McEwan has agreed to forgo the role based part of pay package, which is worth ��1m.
Iron ore in fresh crisis as forward prices crumble
A combination of factors brought about the recent capitulation in forward prices, most notably news that China plans to subsidise its iron ore sector to protect its flagging steel industry. Subsidies would help keep mines open and keep supplies flowing.
