Foreign Banks

Hoping to match 165 years of progress in 5-6 years: CEO of HSBC India

Hitendra Dave spoke about the London-based bank's plans for India and how it aims to capitalize on the opportunities the country has to offer

BS BFSI 2024: Foreign banks focus on strengths to level up India play

India heads see new opportunities as Indian economy gains ground

'India a strategic priority for global banks': Foreign bank heads at BFSI

Heads of India's leading foreign banks discuss the key to success on Indian turf in conversation with consulting editor Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit

Foreign banks in regulatory standoff seek RBI relief on trading rules

In October 2022, Esma de-recognised the Clearing Corporation of India, creating significant obstacles for European banks conducting large-scale transactions

Foreign banks lead as largest investors in debt, says RBI report

It says their investments surpass net inflows into JP Morgan index-eligible bonds

DICGC exceeds global average with month-long depositor payout: Patra

In India, deposit insurance is mandatory for all banks, including foreign banks. As of now, 1,997 banks are covered, which includes 140 commercial banks and 1,857 co-operative banks

Foreign banks lap up government bonds ahead of India's index inclusion

Foreign investors pumped in Rs 14,281 crore in domestic debt market in January

Many Indian HNIs being asked by foreign banks to shut accounts: Report

Two British banks, one Swiss bank and a leading Emirates lender have closed the accounts of these Indians in the last two months

CBI files fresh case against former PEC chief in Rs 194 cr cheating case

The CBI has filed a fresh case against former chairman and managing director of PEC Arun Kumar Mirchandani and other former officials for allegedly causing a loss of Rs 194.61 crore to the public sector company, officials said on Monday. The CBI has filed multiple cases against Mirchandani and former officials of the PEC, a government enterprise under the Ministry of Commerce that facilitates import and export of commodities and grants financial assistance to importers. In the present case, it has been alleged that Morena-based KS Oils availed financial assistance from PEC Ltd for the import of crude edible oil under the foreign letter of credit (FLC) process entering into associateship agreements. KS Oils had secured the financing aid through seven letters of credit established in 2012-13, for which it submitted post-dated cheques (PDCs) as security. Letters of credit (LC) are a guarantee that a bank gives on behalf of its customer to honour the payment commitment. PEC took the ..

Goldman Sachs plans expansion in India, opens new GCC hub in Hyderabad

The centre in Hyderabad includes both new recruits and transfers from Bengaluru

ED issues notices to Xiaomi, 2 senior executives for FEMA violations

The federal probe agency had seized Rs 5,551.27 crore worth of funds of Xiaomi Technology India Private Limited lying in its bank accounts under the FEMA for unauthorised remittance

Is the foreign banking landscape changing in India?

The Indian market offers limitless possibilities. International banks are aware of this but not many seem willing to explore it

Foreign banks: Was Rajan's mention of reciprocity the deal breaker?

The marked shift in the foreign-bank narrative in the post-reform period must also be seen in another context - the renewed talk of privatisation of a clutch of state-run banks

Foreign banks rush to find plan B as ESMA-BoE ban on CCIL looms

Foreign lenders, RBI in talks to find satisfactory alternative mechanisms

ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods

Fresh clearing options came up in discussions with RBI, banks in touch with offshore regulators

Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction

Growth of money kept in current accounts moderated to 8.8% this September, from 17.5% a year ago

RBI-ESMA logjam: Banks turn to EU, UK regulators over trade impact concerns

Banks expressed concerns about trade impact, disruptions seen in OIS, bond markets

Chatroom: 'Export incentives available on payments received through SVAs'

Export invoicing in INR is already allowed but the payment must come through Vostro Accounts maintained by foreign banks with a bank in India

LIC, Centre to sell 60.7% stake in IDBI Bank; DIPAM invites EoIs

DIPAM invites EoIs; last date to submit bids is Dec 16

Rupee trade: Understanding difference between Nostro and Vostro accounts

The RBI has allowed two Russian banks, Sberbank and JSC VTB, to open Vostro accounts for rupee trade. Read more to find out what a Vostro account is and how it is different from a Nostro account