Page 6 - Hsbc

HSBC hires UBS's Gautam Anand for role serving India's rich diaspora

Gautam Anand was appointed Global Coordinator for Global India, the Middle East, North Africa and Europe from Dec. 1, according to an internal memo seen by Bloomberg News

Tech is critical, but banks won't like to be tech companies: Citi India CEO

It is demeaning to compare what banks do and what technology companies do; banks build relationship of trust with customers and use technology as an enabler, says Ashu Khullar, CEO Citibank India

Reliance Industries' luxury real estate bet gets HSBC financing boost

London-based bank originally provided £60 mn loan facility to subsidiary of Reliance Industries Ltd. shortly after it acquired the Stoke Park estate in southeast England for £57 million in 2021

India still far from replacing China as global growth engine, says HSBC

HSBC expects the gap between the two economies to continue to widen in the foreseeable future, expanding to $17.5 trillion by 2028, based on IMF forecasts

Reliance Jio raises Rs 16,640 crore via offshore loans from HSBC, others

Earlier in September, Jio had also raised close to $2 billion from BNP Paribas

HSBC hires eight former Credit Suisse bankers to global equities unit

The appointments have been made to the bank's high touch and portfolio trading desks, across several locations including London, New York, Hong Kong and Mumbai

Indian equity market 'like no other': HSBC Global Research report

Strong earnings outlook and superior return on equity help domestic market standout

HSBC India launches 'ONDC in a Box' to expand corporate offerings

HSBC India on Thursday announced the launch of 'ONDC in a Box', a one-stop-shop proposition for corporates towards seamless enablement on ONDC. With this launch, HSBC India becomes the first foreign bank in India to offer an ONDC-enabled proposition, the lender said in a statement. The Open Network for Digital Commerce (ONDC) is an initiative by Department for Promotion of Industry and Internal Trade, and Ministry of Commerce and Industry to build an open, interoperable network on which buyers and sellers can transact without needing to be present on the same platform. ONDC aims at fostering an inclusive, competitive, and open network, amplifying its impact across the business spectrum. "The 'ONDC in a Box' proposition by HSBC India is presented along with its ecosystem partners - Protean eGov Technologies Ltd (Protean) and Shayr Omnichannel Private Limited (Adya). As part of this proposition, banking services are offered by HSBC India and the ONDC Modules are offered by Protean a

Widespread cereal shortages may further fuel India's inflation, says HSBC

HSBC has retained its inflation forecast of 5 per cent for the year ending March 2024 but sees higher risks if cereal inflation takes off

HSBC chases wealthy clients in India with private banking business launch

HSBC said on Tuesday it would target business with India's wealthy as it launched its global private banking business in the country

IIFL Finance raised $175 million in June from HSBC, Union Bank and BoB

With a borrowing of $100 million in March, the total borrowing in 2023-24 (FY24) so far has reached $275 million

National consumer commission imposes Rs 15 lakh fine on HSBC for negligence

The National Consumer Disputes Redressal Commission has imposed a fine of Rs 15 lakh on the Hongkong and Shanghai Banking Corporation Ltd (HSBC) for negligence and deficiency in service. The top consumer commission was hearing a plea filed by complainants claiming their joint savings bank account was illegally frozen resulting in ATM withdrawal transactions being declined and dishonour of cheques. Presiding Member Inder Jit Singh said, Opposite Party (HSBC) shall pay a compensation of Rs 15 lakh to complainants for the mental agony, harassment and adverse impact on the reputation of complainants on account of dishonour of cheques despite the account having sufficient balance on account of acts of negligence and deficiency in service on the part of the OP. The commission also directed HSBC to pay litigation costs of Rs one lakh. It noted that the bank had frozen the joint on the grounds of non-renewal of the Know Your Customer (KYC) details of either of the complainants and/or ...

DBS Bank India appoints Rajat Verma as MD, Head of Institutional Banking

Rajat Verma will be taking over from Niraj Mittal, who will take charge as the country head of DBS Bank in Australia

HSBC partners Tata Motors for EV financing solutions for salaried accounts

HSBC India has teamed up with Tata Motors for financing the purchase of the latter's electric vehicles by the employee working in the corporate sector. Under the collaboration, consumers holding a salaried account with HSBC India will get a chance to apply for a tailor-made loan to purchase an electric vehicle from Tata Motors' EV portfolio, the domestic auto major said in a statement. Besides, the customers will be able to apply for a loan with zero down payment, no hypothecation, low processing fee and no documentation charges, among others, making vehicle financing simple and easier, it added. Moreover, as an added advantage, customers opting for this loan will also get a special accessory kit for the EV purchased from Tata Motors, the company said. "We are partnering with HSBC India as we work towards accelerating the mass adoption of sustainable mobility in the country. With over 85,000 EVs on the road, Tata Motors is the leader in this fast-growing segment. "Our new-age vehi

Foreigners feel more welcomed in India than Indians in their country: Study

Globally, it took international citizens on average 8.3 months to feel like they belong in their new location abroad: HSBC Research

Reserve Bank of India imposes penalty worth Rs 1.75 crore on HSBC

Earlier in April, the central bank had imposed penalties totalling Rs 44 lakh on four cooperative banks

HSBC agrees to buy its China fund management joint venture partner

HSBC, which currently owns a 49% stake in HSBC Jintrust Fund Management, has signed an agreement with Shanxi Trust under which the Chinese state-owned company will sell its 51%

Portfolio created by ChatGPT reports better returns than top funds in UK

The names included in 'top funds' are Terry Smith's Fundsmith Equity, , Fidelity and HSBC

HSBC's London office shortlist includes former Goldman Sachs headquarters

The shortlist has not yet been finalized and HSBC may also choose to stay at its existing HQ and carry out a refurbishment while remaining in occupation, sources said

Now boarding: Is India on the cusp of a tectonic shift in retail credit?

First-time customers are emerging as a huge catchment area for retail finance, but dangers lurk in the nooks and crannies