Hsbc
Latest news, explainers and analysis on Hsbc. Tracking 7 stories on Arth Vani.
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Latest on Hsbc
BreakingHSBC Deploys Over ₹4,150 Crore From ₹8,300 Crore Startup Fund in India Within a Year
HSBC has committed more than half of its $1 billion (approx. ₹8,300 crore) loan fund to Indian startups within a year of launching its dedicated innovation banking platform. The British lender witnessed strong demand from consumer technology, e-commerce, and enterprise software sectors, indicating a robust appetite for funding in the Indian startup ecosystem.
BreakingHSBC, ICICI Bank Lead NRI Lending at GIFT City to USD 19.3 Billion
HSBC and ICICI Bank are at the forefront of Non-Resident Indian (NRI) lending activities within India's Gujarat International Finance Tec-City (GIFT City). The total value of loans to NRIs facilitated by these leading banks at GIFT City has reached a significant USD 19.3 billion, highlighting the growing financial hub's appeal.
BreakingHSBC to Fuel India Wealth & Retail Banking Growth with FCNR Deposits
HSBC is set to significantly expand its wealth management and retail banking operations in India. This growth initiative will be powered by a substantial increase in Foreign Currency Non-Resident (FCNR) deposits, signalling HSBC's intensified focus on India's affluent customer segment and its growing financial market.
HSBC to Power India Wealth & Retail Banking Expansion with FCNR Deposits
HSBC is reportedly planning to strengthen its wealth and retail banking operations in India, a move expected to be funded by an influx of Foreign Currency Non-Resident (FCNR) deposits. This strategic focus signals the bank's intent to deepen its engagement with the Indian consumer market.
Foreign Banks Challenge Local Rivals as FCNR Deposits Surge 15-Fold to $8.97 Billion
Foreign banks in India have seen a massive 15-fold jump in Foreign Currency Non-Resident (FCNR) deposits, reaching $8.97 billion as of July 30. Major players like HSBC and Standard Chartered are narrowing the gap with domestic banks by aggressively mobilizing dollar-denominated savings from Non-Resident Indians.
Indian Manufacturing Growth Hits 5-Year Low in July Amid Slowing New Orders
India's manufacturing activity recorded its slowest growth in five years this July, with the HSBC Purchasing Managers' Index (PMI) falling to 53.5. This decline from 54.2 in June is primarily attributed to a significant slowdown in new orders and challenging market conditions. While still indicating expansion, the pace is weaker than both the previous month and the long-run average.
Kotak Mahindra Bank Secures ₹5,000 Crore ($600M) Overseas Loan from HSBC, CTBC Bank
Kotak Mahindra Bank is set to raise $600 million (approximately ₹5,000 crore) through an overseas loan from HSBC and CTBC Bank. This strategic move aims to attract foreign currency into India, likely to support Foreign Currency Non-Resident (Bank) deposits, leveraging a special swap facility provided by the Reserve Bank of India.
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