MUMBAI (TIP): The Indian subsidiary of UK banking major HSBC on Thursday said it will reduce the number of branches in the country by almost half, a move that could result in job deployments for […]
NEW YORK (TIP): Wal-Mart and some smaller retailers surged Thursday following strong quarterly results, while the broader US market retreated on worries about higher interest rates. Wal-Mart Stores jumped 9.6 percent after reporting better-than-expected first-quarter […]
NEW DELHI (TIP): Newly-designed currency notes are likely to circulate in the country soon with the Reserve Bank of India board on Thursday recommending a new set of designs for the banknotes. “The Central Board […]
NEW DELHI (TIP): The cut in repo rate, measures to enhance liquidity in the banking system and the new methodology to calculate lending rates will give banks a freer hand in transmitting the reduction in […]
NEW YORK (TIP): An Indian-American Harvard University graduate has come up with a new series of seven dolls that represent common girls with ethnic diversity and celebrate them for their brains, talents and leadership. Neha […]
PROFILE At a time when majority of foreign banks in USA are struggling to cope with federal regulations, Bank of Baroda is forging ahead with innovative programs to help its customers. Not many banks can claim […]
MUMBAI (TIP): The Reserve Bank on Wednesday relaxed overseas borrowings norms to help companies raise funds for infrastructure projects in the country. The central bank said it has reviewed the extant external commercial borrowing (ECB) […]
LOS ANGELES (TIP): California’s attorney general Kamala Harris may become the first Indian-American senator in the US Congress after she won Democratic Party’s endorsement for the seat. Harris (51) and Loretta Sanchez were vying for […]
BANGKOK: Add aging western bridge players to the list of desperadoes in Thailand’s seaside resort of Pattaya, a sin city rife with prostitution, corruption and foreign and home-grown gangsters. The bridge players, mostly British but […]
WASHINGTON (TIP): Since last month, US warplanes have struck Islamic State’s oil infrastructure in Syria in a stepped-up campaign of economic warfare that the United States estimates has cut the group’s black-market earnings from oil […]
NEW DELHI (TIP): The World Bank has maintained its growth forecast for the Indian economy for the current fiscal year and expects it to expand by 7.5% in 2015-16. It has backed implementation of three […]
MUMBAI (TIP): To enable Indians living abroad to access old age income security, Reserve Bank has allowed non-resident Indians (NRIs) to subscribe to the National Pension System (NPS). “It has now been decided, in consultation […]
LONDON (TIP): British lender Barclays, fresh from appointing new chief executive James ‘Jes’ Staley, on Thursday logged rising third-quarter net profit boosted by its investment banking division. The appointment of 58-year-old American investment banker Jes Staley […]
NEW YORK: In a rare criminal action on Wall Street, an Indian-origin former Goldman Sachs banker suspected of taking confidential documents from a source inside the government has agreed to plead guilty. Goldman Sachs is also facing an array […]
MUMBAI (TIP): There is a new twist to the issue of rising bad loans in the banking sector. Under the new global accounting norms that banks have to adopt from April 1, 2018, the gross level […]
MUMBAI (TIP): Financial services major Reliance Capital on October 15 announced a major ESOP scheme under which select employees across all major operating businesses would be granted stock options with a notional value of Rs […]
NEW YORK CITY, NY (TIP): HAB Bank invited some key clients to a business lunch with Mr. Muhammad Habib (Owner of Habib Bank) on October 13th, 2015 at Junoon Restaurant in Manhattan. Mr. Saleem Iqbal, President […]
CHICAGO (TIP): Former House Speaker Dennis Hastert intends to plead guilty in a federal hushmoney case linked to allegations of sexual misconduct from decades ago, his attorney told a federal judge on Thursday. Hastert, a […]
MUMBAI (TIP): Axis Bank has become the first lender to offer corporates a mobile-based solution that fully integrates with the company’s own back-end computer networks. This offering, aimed at beefing up the bank’s transaction banking […]
Mumbai: Swiss banking group Julius Baer has finally set up shop in India, almost three years after acquiring DSP Merrill Lynch’s domestic wealth management business. The launch was deferred on account of a delay in approvals […]
MUMBAI (TIP): Reserve Bank relaxed norms for banks to grant certain loans to their CEOs and directors by doing away with the prior approval requirement. Section 20 of Banking Regulation Act, 1949 (B.R. Act, 1949) […]
NEW YORK (TIP): In a relief to Sahara, a US court has rejected a plea seeking to attach the Indian group’s prized Plaza and Dream Downtown hotels here. Hong Kong-based JTS Trading had approached the […]
10 entities, including Ujjivan Financial Services and Equitas Holdings, on Wednesday got RBI’s approval to set up Small Finance Banks to provide basic banking services to small farmers and micro indus-tries. Other entities to get the […]
NEW YORK: ICICI bank CEO Chanda Kochhar is among three Indians selected for this year’s Asia Game Changer awards given by Asia Society to honour “true leaders making a positive contribution to the future of Asia.” […]
A mobile app launched by Indian American banker Jay Sidhu and his daughter Luvleen can revolutionise the global banking industry into completely phone-app based banking system, a media report said. Jay Sidhu, chairman and CEO of […]
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