After the Reserve Bank of India (RBI) fined ICICI, HDFC and Axis banks for flouting customer norms, highlighted by a Cobrapost expose, the latest sting operation by the online magazine exposes how some employees in two foreign banks in India have also been involved in accepting black money and agreeing to launder it. ...
11:32 PM, Jun 18, 2013
New Delhi: After the Reserve Bank of India (RBI) fined ICICI, HDFC and Axis banks for flouting customer norms, highlighted by a Cobrapost expose, the latest sting operation by the online magazine exposes how some employees in two foreign banks in India have also been involved in accepting black money and agreeing to launder it. HSBC and Standard Chartered officers have been caught in a Cobrapost sting operation, offering to...
10:00 PM, Jun 18, 2013
Mumbai: Morgan Stanley said on Monday it has signed an agreement to sell its Indian wealth management unit to Standard Chartered. Financial terms of the deal were not disclosed. "Morgan Stanley will work closely with Standard Chartered over the coming months to ensure a smooth transfer of our wealth management clients currently serviced in India," the US bank said in a statement. This process is expected to be completed by...
02:44 PM, May 20, 2013
London: HSBC will redouble cost-cutting efforts, including axing up to 14,000 more jobs, but Europe's largest bank was forced to soften a key performance target in the face of muted revenue. London-headquartered HSBC is seeking up to $3 billion in additional annual savings by 2016, on top of $4 billion already achieved, but sluggish growth outside Asia, particularly in Europe, means its target to get costs below 52 per cent...
08:10 PM, May 15, 2013
New Delhi: The Reserve Bank has widened its probe into the affairs of British banking giants HSBC and Standard Chartered to a host of other foreign banks for alleged breach of controls against money laundering and terror financing. Besides, capital market regulator Sebi may also join the investigations, as there are concerns of funds from these banks being routed to the stock market through foreign investors and other entities, sources...
01:28 PM, Aug 26, 2012
New Delhi/Mumbai: Bharti Airtel has shortlisted banks including Standard Chartered and JPMorgan to manage a share flotation for its telecoms masts unit to raise more than $750 million, two sources with direct knowledge of the matter said. The biggest Indian mobile phone carrier has also shortlisted Bank of America Merrill Lynch, HSBC, UBS and Kotak Mahindra for the initial public share offer (IPO), the sources said on Friday. Bharti may...
04:41 AM, Aug 25, 2012
New York: Standard Chartered Plc has agreed to pay $340 million to settle allegations by New York's bank regulator that it hid transactions linked to Iran. The announcement on Tuesday capped a week-long transatlantic dispute over the US investigation of a British bank and a furore over why New York Superintendent of Financial Services Benjamin Lawsky had acted independently of US federal agencies. The resolution also came after London-based Standard...
03:58 AM, Aug 15, 2012
Mumbai: The New York banking regulator's accusation that Standard Chartered Plc hid $250 billion in transactions tied to Iran may bring fresh scrutiny on the outsourcing of sensitive functions by global financial institutions, especially to India. Standard Chartered lost $16 billion in market value on Tuesday as its shares plunged after the New York State Department of Financial Services threatened to cancel the British bank's state banking licence. As part...
08:17 PM, Aug 07, 2012
New York: In a rare move, New York's top bank regulator threatened to strip the state banking licence of Standard Chartered Plc, saying it was a "rogue institution" that hid $250 billion in transactions tied to Iran, in violation of US law. The New York State Department of Financial Services (DFS) on Monday said the British bank "schemed" with the Iranian government and hid from law-enforcement officials some 60,000 secret...
09:44 AM, Aug 07, 2012
Neeraj Swaroop Age: 53 years Designation: Was regional chief executive, India & South Asia at Standard Chartered Bank. He is now the regional chief executive for South East Asia (excluding Singapore) Education: IIT, Delhi and MBA from IIM Career: Worked at Unilever, India, HDFC Bank and Bank of America Interests: Watching cricket, travelling, swimming Q. A lot of foreign banks have had issues in scaling up in India, but Standard...
08:42 AM, Mar 31, 2012
Mumbai: Ailing national carrier Air India on Tuesday decided to import aviation fuel directly to save cost, apart from taking a bridge loan facility worth $ 195 million (about Rs 1,000 cr) from Standard Chartered Bank India for two of its 27 Dreamliners to be delivered to it shortly. "The Air India Board, which met here (Mumbai) today, has decided to import aviation fuel directly. Towards, it has been decided...
09:04 PM, Mar 27, 2012
London: Liverpool's biggest sponsors criticized the club on Monday for their conduct during the fractious Premier League match against Manchester United that was marred by Luis Suarez's refusal to shake hands with Patrice Evra. The image of one of England's most successful teams took another battering on Saturday when Suarez snubbed Evra in a pre-match handshake at Old Trafford, re-igniting the racism row that flared up when the Ururguay forward...
05:18 PM, Feb 14, 2012
A record 38,700 people participated in the annual Mumbai Marathon on Sunday and as always the Kenyans and Ethiopians ran away with the medals. Laban Moiben of Kenya won the men's title while Netsa-net Abeyo of Ethiopia won in the women's categoray. India's Ram Singh Yadav's performance has helped him qualify for the London Olympics. Corporates and bollywood actors like Rahul Bose and Ashmit Patel also participated. ...
01:56 PM, Jan 15, 2012
This year too will see many strong contenders from the marathon-favourites Kenya and Ethiopia. ...
09:09 AM, Jan 15, 2012
Mumbai: Leading lenders Standard Chartered and HDFC Bank on Friday said they expect the Reserve Bank to hike its short-term lending rate by 25 basis points in the forthcoming monetary policy, a view echoed in an RBS survey of money market participants. "We see a 25 bps increase in the repo rate at the 26 July policy as inevitable, inflation management will remain the priority, but policy statement is likely...
09:51 PM, Jul 22, 2011
New Delhi: CBI on Wednesday sought clarifications from Standard Chartered Bank officials in connection with its probe into former Aircel chief C Sivasankaran's allegations that the then Telecom Minister Dayanidhi Maran forced him to sell his company to Malaysia-based Maxis group in 2006. The agency has registered a preliminary enquiry into sale of telecom spectrum during 2001-07. Sources in the agency said Standard Chartered was the banker in the deal...
05:47 PM, Jul 13, 2011
Thousands of Mumbaikars turned out to participate in marathon. ...
11:38 AM, Jan 18, 2010
Celebrities, industrialists, elderly join annual event for charity. ...
09:28 AM, Jan 17, 2010
The initiative aims at being able to help 20 million get eyesight by 2010. ...
06:15 PM, May 31, 2009
