StanChart to buy AmEx Bank for $860 million UK-based international banking giant Standard Chartered Plc. has announced that it has reached an agreement to acquire US-based American Express Bank (AEB) for about $860 million in an all-cash deal that would give the British banking major seven additional branch licences in India. 19 Sep 2007
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India biggest borrower in 2007: World Bank A World Bank media release has indicated that India is the largest borrower in the fiscal year 2007, accounting for as much as $3.75 billion, or 15 percent of the bank's total lending as the bank group globally committed $34.3 billion. 15 Sep 2007
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Yes Bank to focus on private equity deals, M&As India's Yes Bank, a financial concern in which Rabobank, Citigroup and other international investors have put in their money, has decided to spin off its investment banking division into a wholly owned subsidiary. 13 Sep 2007
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Bank union to go on nationwide strike on Sept 12 The United Forum of Bank Unions, a body of nine bank unions, has decided to go on a nationwide strike on September 12 after recent talks with the Chief Labor Commissioner over the implementation of a memorandum of understanding (MoU) failed. 12 Sep 2007
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ICICI Bank to set up $2 billion infrastructure fund India's largest private sector bank, ICICI Bank, proposes to set up a $2 billion infrastructure fund - the largest infrastructure fund by an Indian entity to hit the market. 11 Sep 2007
ICICI Bank signs $200 million credit line with Korean Eximbank India's largest private sector bank, ICICI Bank has signed a $200 million line of credit with The Export-Import (Exim) Bank of Korea (Korean Eximbank) to support Korean companies operating globally. 26 Aug 2007
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Impact of RBI's decision to hike CRR by 50 basis points India's central bank, the Reserve Bank of India (RBI) has reined in liquidity in the market by raising the cash reserve ratio (CRR) - the proportion of deposits that banks must keep as cash with the RBI - to 7 percent from the present 6.5 percent. This is the fourth such hike since last December. 12 Aug 2007
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IFCI stake sale draws foreign players The news that the Industrial Finance Corporation of India Ltd (IFCI) will divest at least 26 percent of its stake to strategic investors through fresh issue of shares, has drawn the attention of foreign players like Citigroup, Lehman Brothers, BNP Paribas, Deutsche Bank and Barclays. 09 Aug 2007
