Page 2 - Standard Chartered Bank

Standard Chartered gives 20-week paternity, adoption leave to all employees

The bank announced that the leave will be made available irrespective of gender, relationship status, or how a child comes to permanently join an employee's family

Insurer Star Health announces alliance with Standard Chartered Bank

Collaboration with lender will help in offering 'tailored health insurance' to more customers, says firm

India to become middle-income country with GDP of $6 trn by 2030: Report

The report, released by Standard Chartered Bank, assumes that India's nominal GDP growth rate will be 10 per cent per annum from now on

RBI slaps penalties on Standard Chartered Bank-India, other entities

The Reserve Bank of India on Monday said it has imposed penalties on Standard Chartered Bank-India, TransUnion CIBIL, Equifax Credit Information Services, and other entities for contravention of various norms. A monetary penalty of Rs 30 lakh has been imposed on Standard Chartered Bank-India for non-compliance with certain provisions of the 'Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016'. Also, a penalty of Rs 26 lakh has been imposed on TransUnion CIBIL Limited, Mumbai for non-compliance with certain provisions of the Credit Information Companies (Regulation) Act, 2005 [CIC (R) Act], according to releases. RBI has slapped a penalty of Rs 24.25 lakh on Equifax Credit Information Services, Mumbai for non-compliance with certain provisions of the CIC Rules. Among other entities, a fine of Rs 24.75 lakh has been imposed on Experian Credit Information Company of India, Mumbai for non-compliance with certain provisions of the CIC (R) Act. Further, a penalty of Rs 25

Vedanta resources repays $800 million loans to Standard Chartered

The company had paid all loans and bonds due last month, cutting its gross debt to $6.8 billion, it said in a statement in April

Zee enters one-time settlement with StanChar over Siti Networks loan

Zee Entertainment Enterprises Ltd (ZEEL) has entered into a one-time settlement agreement with Standard Chartered Bank for the loan taken by Siti Networks, a part of the Essel Group. Standard Chartered Bank had sanctioned certain credit facilities to Siti Networks, which was inter-alia secured by DSRA (Debt Service Reserve Account) support and undertaking from ZEEL. "Since the Borrower has defaulted in its debt repayment obligations to the Bank, the Company has entered into a one-time settlement agreement with the Bank in respect of DSRA Claims/Undertaking in the interest of amicably resolving the issues between the parties," said ZEEL in a regulatory filing on Thursday. Though the company, which is merging with rival Culver Max Entertainment Pvt Ltd, formerly known as Sony Pictures Networks India, has not mentioned the amount. Siti Networks, formerly known as Wire and Wireless Ltd, is a multisystem operator promoted by media baron Subhash Chandra-led Essel Group. Earlier this wee

Vedanta Resources repays $250 mn in loans to Standard Chartered Bank

Mining mogul Anil Agarwal-led Vedanta Resources Ltd (VRL) has repaid USD 250 million in loans that the company took from Barclays Bank and Standard Chartered Bank, according to regulatory filings. The company had earlier said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position. VRL, the majority owner of Mumbai-listed mining and oil & gas company Vedanta Ltd, repaid USD 150 million borrowed from Barclays Bank. "The earlier disclosure was made pursuant to facility agreement dated June 16, 2022...between Twin Star Holdings (borrower), VRL and Welter Trading Ltd (as original guarantors), Deutsche Bank AG acting through its Singapore Branch, and Barclays Bank PLC (as original lender), for the purposes of availing facility of an aggregate amount of USD 150,000,000 by the borrower from the original lender," the company said in a filing to BSE. However, the said facility has been repaid and

$100 mn repaid to Standard Chartered Bank, encumbrance released: Vedanta

Recently, Vedanta said that it has prepaid all its debt that was due for repayment till March 2023

Suzuki Motorcycle ties up with Standard Chartered to give funds to dealers

Suzuki Motorcycle India on Wednesday said it has joined hands with Standard Chartered Bank to provide wholesale funding to its dealer partners for vehicles and spare parts. The initiative will support the company's dealer partners across the country and enable them to expand their businesses and operations, the two-wheeler maker said in a statement. "As a responsible company, we are committed to support our dealer partners so that they can meet their financial requirements. This programme is a testament to our commitment, and we look forward to a successful partnership with Standard Chartered Bank," Suzuki Motorcycle India Executive Vice President, Sales, Marketing and After Sales Devashish Handa noted. Standard Chartered Bank Regional Head Global Subsidiaries, India and South Asia, Corporate, Commercial and Institutional Banking Chandandeep Kaur said the bank is committed to support businesses in India by providing them with the necessary financial tools and developing customised .

Hindenburg fallout: Adani Group decreasing exposure to Indian banks

Of all the debt the Adani Group has, over half is foreign debt in the form of overseas bonds and loans taken from foreign banks, and a fourth is from domestic banks

India set to post BoP deficit for 2nd straight yr: Standard Chartered Bank

The foreign bank expects current account balance to slip into a deficit of 3% of gross domestic product this financial year from a surplus of 0.9% last year

Adani group to refinance ACC, Ambuja Cement debt of $3.5 billion

Adani currently holds 63.15 per cent stake in Ambuja Cement and 56.69 per cent in ACC

Prakash Subramanian joins hedge fund Millennium Capital as India CEO

US-based company is looking to invest in India and is building a new management team in the country

Bank officers' union protests against violation of HR norms by StanChart

The All India Bank Officers' Confederation (AIBOC) has alleged violation of HR practices by foreign lender Standard Chartered Bank and submitted a detailed memorandum requesting the bank's CEO for immediate remedial measures. The union also alleged that the bank is delaying in recognising Association of Standard Chartered Bank Officers (Kolkata) ASCBO despite several reminders. The right to form association/union is a fundamental right enshrined under Article 19 (1) (C) of the Constitution of India, and any attempt to disavow and thwart the fundamental rights of members of ASCBO will not be condoned by AIBOC, the memorandum said. "The obsolete pay scales and the unsettled service conditions beckons for an overhaul...it is imperative to approve fair and appropriate service conditions for the officers, in consonance with the industrial norms and practices," it said. AIBOC general secretary Soumya Datta urged the management of Standard Chartered Bank to initiate dialogue with the ASCB

Standard Chartered Bank offloads CG Power shares of worth Rs 298 cr

Standard Chartered Bank (Singapore) Ltd offloaded 1.38 crore shares of CG Power and Industrial Solutions shares for Rs 298 crore on Wednesday through an open market transaction. According to block deal data available with BSE, Standard Chartered Bank (Singapore) Ltd sold 1,38,45,000 shares in six tranches, amounting to a 0.91 per cent stake in the company. The shares were disposed of at an average price of Rs 215 apiece, taking the transaction value to Rs 297.66 crore. Meanwhile, Societe Generale, DSP Mutual Fund and HDFC Life Insurance company Ltd picked up the shares of the company. Shares of CG Power and Industrial Solutions closed 1.65 per cent higher at Rs 219.25 on BSE.

Govt clears ex-Standard Chartered banker as Sebi whole-time member

The appointment is for three years for a position vacant since November 2021

Unity Small Finance Bank appoints Inderjit Camotra as MD and CEO

Unity Small Finance Bank is a new age, digital first bank which was recently elevated to a 'Scheduled Bank' and was included in the Second Schedule of the RBI Act.

Jubilant Pharma arm to raise $400 mn from Standard Chartered to repay debt

While the term loan and bonds aggregate to USD 350 million, about Rs 2,787 crore, the company is raising another tranche of USD 50 million (about Rs 400 crore) for capital expenditure.

We are a global bridge for India Inc: CEO JPMorgan Chase Bank (India)

'As India emerges from the pandemic, and with the robust rebound in gross domestic product, we are seeing Corporate India using this period to deleverage'

Standard Chartered settles case with Sebi in CG Power case; pays Rs 4.97cr

Standard Chartered Bank has settled with markets regulator Sebi a case pertaining to alleged violations of norms in the matter of CG Power and Industrial Solutions Ltd after paying Rs 4.97 crore