Growth data for the July-September period is expected to be released on Thursday, while the Reserve Bank will be coming out with a bi-monthly review on December 6.
The appointment would be effective from December 1 subject to regulatory approvals, HSBC said in a statement.
Besides Citigroup, other foreign banks hired by the People's Republic of China (PBOC), acting through the Ministry of Finance, for the issue are Deutsche Bank, HSBC, and Standard Chartered, the memo showed.
HSBC is carrying out a sweeping overhaul to increase profitability. That includes shedding thousands of workers and exiting some markets in order to focus even more on Asia.
Europe's biggest bank has told the Bank of England it wants approval for Flint, who currently runs the lender's retail and wealth management businesses, to take over from Stuart Gulliver, the paper said, citing unnamed sources.
According to the global financial services major, although reforms over the past year have caused disruptions that will likely mean lower growth rates in the near term, they should allow India to unleash more of its undoubted potential over the medium term.
In an interview to CNBC-TV18, Paul Mackel, MD - Head of Asian Currency Research at HSBC shared his views and readings on the dollar-rupee.
The following article is an initiative of CNBC TV18 and HSBC and is intended to create awareness among the readers.
The bank said it expected rates to be lifted by 25 basis points in November and then again in May 2018, taking Britain's benchmark interest rate to 0.75 percent.
Social capital is "insufficient" in the country and spending on aspects like health and education "is not just desirable for its (India's) own sake, but is also central to economic growth and political stability", it said.
According to global financial services major, higher private consumption and government spending is likely to be "dulled" by weak investment and exports growth over the quarter. "Repercussions of an early budget and the newly implemented Goods and Services Tax (GST) rates, receipts and rebates are likely to distort upcoming GDP readings," it said.
The note comes two days after data showed that headline consumer price inflation almost doubled to 2.36 percent for July from 1.54 percent in the previous month.
The note comes two days after data showed that headline consumer price inflation (CPI) almost doubled to 2.36 per cent for July from 1.54 per cent in the previous month, and a day after the wholesale price inflation also shot up to 1.54 per cent from being negative in the previous month.
According to the global financial services major, inflation in India has fallen dramatically, and though the excessively low level it witnessed this fiscal is not sustainable, the rebound may not be too sharp either.
A Reuters poll showed 56 of 60 analysts expected the RBI's monetary policy committee to keep its repo rate unchanged at a 6-1/2 year low of 6.25 percent for a fourth meeting in a row. They also expected the reverse repo rate to be left at 6.00 percent.
It also said that the Goods and Services Tax will not have an upward impact on inflation. The government finalised a multiple rate tax structure, while an ideal GST would have carried one single rate with very few exemptions, HSBC said.
According to the global financial services major, the RBI's decision to narrow the policy rate corridor by raising the reverse repo rate and lowering the MSF rate killed several birds with one stone.
The RBI held the repo rate at 6.25 percent on Thursday, as widely expected, and raised its inflation forecasts, increasing expectations it could even tighten should prices accelerate.
HSBC believes the share price run-up is not factoring in the execution risks and has run ahead of fundamentals.
As an American humorist said: "Fun is like life insurance; the older you get, the more it costs."
Banking giant HSBC announced on Friday that it is introducing a range of gender neutral titles for transgender customers and others who do not identify as male or female.
Foreign brokerage HSBC today said despite financial support from the Centre, Indian state governments' fiscal deficit widened more than budgeted and the gap will remain at the elevated level in 2017-18.
Actions around Indus’ consolidation and how it plays out along with incremental market share seen as reasons to be positive on the stock
This brings them more in line with broader market consensus, although they are still on the dovish end of the spectrum and reckon that rates will rise no higher than 1.625 percent until at least the end of next year.