The money will be used to meet the group’s working capital needs and for future debt-related payment obligations
StanChart has approached the NCLAT alleging that the CoC had discriminated against it, as it was being offered only 1.7 per cent of its total dues from Essar Steel's resolution plan, while other financial creditors, forming part of the CoC, were getting over 85 per cent of their dues.
The ministry is filling two applications and a petition against Bawa and his wife and the banks after it has come to light that the parties have broken the orders of the bankruptcy tribunal.
The downsizing is majorly in retail vertical, largely due to the reduced need for people manning operations in face of the cheaper digital alternatives, they said.
The bank has accused the bigger financial creditors of undermining interest of their smaller peers
Standard Chartered Bank (SCB), which has more than 7.5 per cent weightage in the Committee of Essar Steel Creditors, in the petition before the National Company Law Tribunal (NCLT) claimed that ArcelorMittal's revised bid of Rs 42,000 crore was never considered by the CoC.
An official statement said Standard Chartered Private Equity (SCPE) will acquire Naspers' stake in TBO Group, a business to business travel distribution company.
As per the alliance, business account holders at Standard Chartered Bank can pay their suppliers either through cross-border payments or bank transfers from Zoho Books, Zoho's Cloud Accounting software.
Two of the aircraft are to be used for ferrying VVIPs, the Minister of State for Civil Aviation said in a written reply in the Lok Sabha.
The Bank expects to have 30 per cent of GBS employees based in Bengaluru over the next few years by doubling the current head count based in the city from a combination of internal moves and selective hiring.
The Ahmedabad bench of the tribunal of judicial member Bikki Raveendra Babu granted time to Essar Steel till July 22 to file objections to the petitions moved by the two lenders against the company after the Gujarat High Court dismissed its petition yesterday. The tribunal posted the hearing in the matter for July 24.
lack of dollar strength is likely to be good for emerging markets and so from a long-term perspective, Indian equities and rupee is well placed, said Manpreet Gill, Senior Investment Strategist, Standard Chartered.
The market seems to be adjusting itself to the possibility of rate hikes than rate cuts or status quo, said Ananth Narayan, Head-Financial Markets, Standard Chartered Bank.
Apart from allowing users to simply tap and pay on the go using their registered cards, the service, Samsung Pay, has integrated Paytm as well as the government's Unified Payments Interface (UPI) into the application, the South Korean giant said in a statement here.
The allotment of equity shares to Standard Chartered Bank, which is one of the lenders from the Joint Lenders' Forum, in lieu of and against the conversion of a part of the loans availed by the company from Standard Chartered Bank.
Standard Chartered Bank, India today said it has appointed Subhradeep Mohanty as its chief financial officer.
Speaking to CNBC-TV18, Ananth Narayan, Head-Financial Markets at Standard Chartered Bank, said he does not expect short-term funding rates to move higher.
Ananth Narayan, Head-Financial Markets, Standard Chartered Bank said changing the stance from accommodative to neutral was a surprise and not expected by the market and so one is likely to see a sell-off in bond markets
The decline could mark a major setback for Beijing, which has tried to foster greater usage of the yuan in cross-border trade to expand its global clout.
Nonfarm payrolls probably increased by 178,000 jobs last month after a similar rise in November, according to a Reuters survey of economists. The unemployment rate is forecast ticking up to 4.7 percent from a nine-year low of 4.6 percent in November.
The Reserve Bank today imposed penalty on five foreign banks, including Deutsche Bank and Standard Chartered Bank, for violation of its instructions on reporting requirements of the FEMA.
It will become the first depository to get listed on the stock exchange once the IPO plan goes through.
Both V Srinivasan of Axis Bank and Ashish Parthasarthy of HDFC Bank agree that the withdrawal limit could extend beyond December 30 because the limit depends on the availability of currency.
The Reserve Bank of India will hold its bi-monthly policy meet today. Experts expect 25 basis point (bps) cut. But, probability of a 50 bps cut cannot be ruled out, says Vivek Rajpal, Rate strategist at Nomura India.
The Reserve Bank of India will be sensitive to dollar-rupee movement and correction on account of November 8 US presidential elections, Ananth Narayan, Head-Financial Markets, Standard Chartered Bank, told CNBC-TV18. There is a lot of reason to be cautious on the rupee, he added.