Foreign Banks

Russia bans foreign banks from opening branches

Russian President Vladimir Putin has signed a law banning foreign banks from opening branches in the country, the government website said. The bill was adopted by the State Duma Februsry 22, 2013, and approved by the Federation Council March 6, 2013. ...  

Private, public sector banks on strike on Tuesday

Mumbai: Around 700,000 employees and officers of the public sector, private sector and foreign banks will strike work all over India on Thursday, an official said in Mumbai on Monday. Work in 27 public sector banks, 12 old generation private sector banks and eight foreign banks shall come to a standstill due to the strike, said Vishwas Utagi, secretary, All India Bank Employees' Association (AIBEA). "We are protesting the central...  

RBI widens StanChart, HSBC probe to other banks

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...  

'Foreign banks should play a role India's development'

Mumbai: Reserve Bank Deputy Governor KC Chakrabarty on Saturday said MNC banks must play their roles in the nation's development. "You (foreign banks) must participate in the development process of the country if you (foreign) want to think big," Chakrabarty said. Speaking to reporters on the sidelines of an ICAI function, he further said that foreign banks have been given sufficient time (of five years) to raise their priority sector...  

I-T may get to re-open returns beyond 6 years

New Delhi: Government may grant the Income Tax department powers to re-open tax returns of beyond six years in specific cases of black money where "foreign assets" are involved. The I-T department needs these powers to pursue the ongoing cases where funds were found to be stashed abroad and these came to light after India received a classified list of bank account holders which include those in HSBC bank Geneva...  

Govt files affidavit in SC on black money in banks

The affidavit was filed in response to a PIL filed in the Supreme Court. ...  

Foreign banks to charge 30 per cent interest :SC

The foreign banks have won the order from the SC citing RBI guidelines. ...  

Foreign banks move SC on interest rates on credit cards

A group of foreign banks have been restrained from charging interest. ...