Page 2 - Standard Chartered Bank

DCM Shriram gets Rs 100 cr sustainable finance from Standard Chartered Bank

DCM Shriram Ltd on Wednesday said it has secured Rs 100 crore sustainable finance from the Standard Chartered Bank to fund the upcoming compressed bio-gas plant in Uttar Pradesh. The compressed bio-gas plant with 12 tonne per day capacity at the Ajbapur Sugar Unit will produce compressed bio-gas using 'pressmud' as feed stock, a waste generated in the sugar manufacturing process, the company said in a statement. DCM Executive Director and Group CFO Amit Agarwal said this is the company's second sustainable finance transaction in the last six months. Standard Chartered Bank Executive Director (Sustainable Finance) Shobana Chawla said sustainable financing continues to be one of the strategic priorities at the bank. "We have been assisting our clients transition to net zero, and at a group level have committed to mobilise USD 300 billion in sustainable finance by 2030. This facility to DCM Shriram is one such initiative," she added. DCM Shriram is in the diversified business of ...

StanChart exits CDSL, sells stake; Maruti mcap breaches Rs 4 trn mark

The market capitalisation of passenger car major Maruti Suzuki India (MSIL) topped the Rs 4 trillion mark for the first time in intraday trade on Wednesday

Aster DM, CDSL dip up to 7% after 10% equity changes hands via block deals

Aster DM sees nearly 10 per cent of its equity change hands, while 10.23 per cent equity of CDSL were traded in a black deal on Wednesday.

StanChart weighs break up of corporate, investment bank to improve returns

The London-listed bank has been weighed down in recent years, in part as it was forced to set aside more in reserves for souring loans tied to Chinese commercial real estate.

Rana Talwar: Indian trailblazer who took Citi, StanC to new heights

Talwar, the son-in-law of real estate tycoon KP Singh, chairman emeritus of DLF, also served on the board as a non-executive director

Rana Talwar, first Indian to head a global bank, passes away at 76

Veteran banker Rana Talwar, who was the first Indian to head a global bank -- Standard Chartered Plc, died at the age of 76 years. Talwar, son-in-law of DLF Group chairman emeritus K P Singh, breathed his last on Saturday, sources said. He is survived by his wife Renuka and son Rahul. Besides DLF, he served on the boards of various companies including Asahi India Glass Limited and Great Eastern Energy Corporation Limited. The company regrets to inform about the sad demise of Talwar, a non-executive director, on Saturday, January 27, 2024, which was intimated to the company by the family members, DLF said in a regulatory filing. Born in 1948, Talwar started his career as a banker in India with Citi Bank after passing out of the prestigious St Stephens College, Delhi. During his stint at Citi Bank, Gurvirendra Singh Talwar also known as Rana Talwar, was responsible for building the US-based bank's retail businesses across Asia Pacific and the Middle East. He was subsequently respon

State Bank of India raises $600 million through dollar bonds

S&P Global Ratings had assigned a BBB long-term issue rating to benchmark-sized notes that the London branch of SBI issued

Vedanta close to raising $3 bn from JP Morgan, Standard Chartered: Report

The money will be used to escape default on Vedanta's upcoming payments

GreenCell, SCB ink green financing deal for Surat E-Mobility project

Electric mobility player GreenCell Mobility on Thursday said it has signed a green financing deal with Standard Chartered Bank for its Rs 125-crore Surat E-Mobility project. Surat E-Mobility project consists of 150 electric buses in Gujarat and aims to reduce 1 lakh tonne of CO2 emissions over the project lifetime, the company said in a statement. "GreenCell has availed green loan by the leading global bank, Standard Chartered Bank, in a significant move to step up our efforts towards transforming India's electric transportation landscape. "The green financing secured for our project will not only boost our operations but also reaffirm our leadership in the e-mobility sector in India," GreenCell Mobility CEO and Managing Director Devndra Chawla said. The company claimed that this is the first green loan project finance facility for an e-mobility project in India and globally by the Standard Chartered Bank. "We are delighted to support GreenCell Mobility on this landmark financing,

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