IIFCL to take ECB route to raise $500m.
Byline: Sutanuka Ghosal & Atmadip Ray KOLKATA: Standard Chartered Bank (StanChart) will lead arrange India Infrastructure Finance Co's (IIFCL) $500-million external commercial borrowing (ECB) plan. The resources will be raised for a period of 10 years. IIFCL chairman and managing director SS Kohli said, "The...

Foreign inflows to continue despite PN scare.
MUMBAI: Foreign fund inflows continue to remain strong even now despite the proposed clampdown on participatory notes (P-notes ) and volatility in the markets. According to ICICI Bank managing director and CEO KV Kamath, investors still believe in the long-term growth story for India. In his view,...

It's a high five for staff of foreign banks.
MUMBAI: More banks are wooing employees by giving them an option to work less. The latest trend among multinational banks is to go for five-day week. HSBC, Standard Chartered Bank and Citibank have already implemented a five-day week schedule while others are giving it a thought. Last...

StanChart buys up to 5% in private banks.
KOLKATA: Standard Chartered Bank (StanChart) has picked up to 5% stakes in a few private sector banks, according to chief executive officer (India) Neeraj Swaroop. The CEO, however, did not disclose the details of such deals. "We have taken stakes in a few private banks up to...

StanChart pumps in $250-mn fresh funds.
KOLKATA: UK-based Standard Chartered Bank, which began its banking odyssey from Kolkata exactly 150 years ago, has big expansion plans in India. Flagging off its 150-year anniversary celebrations in Kolkata on Wednesday, Standard Chartered Bank group CEO Peter Sands announced a fresh investment of $250 million for the Indian...

Misys Banking Systems Wins Prestigious Financial-i Award for Most Innovative Trade Finance Solution.
LONDON, November 20 /PRNewswire-FirstCall/ -- - Inaugural "Leaders in Innovation Awards" Recognise Misys' Achievements and Leading Position in International Trade Finance Misys Banking Systems , a global leader in banking software and solutions, has won the 'Best Trade Finance Solution' category at the inaugural 2006 "Financial-i Leaders...

TCS acquires Australian core banking solutions co.
MUMBAI: Tata Consultancy Services (TCS) on Thursday announced that it had acquired Australian Financial Network Services (FNS), a core banking solutions vendor, for approximately $26m. TCS has bought the stakes owned by Macquarie Bank and other promoters in an all-cash deal. FNS has more than 100 banks...

Document Sciences Named Banking Market Leader By Celent.
CARLSBAD, Calif., Nov. 17 /PRNewswire-FirstCall/ -- Document Sciences Corporation , a global leader in providing customer communications management solutions, announced today that it has been named a document creation market leader by Celent, LLC in the firm's report, "Document Management in Banking: Overview and Solution Spectrum." Celent's independent, industry-leading...

Samir Bimal to head private banking at ING Vysya Bank.
BANGALORE: City-based ING Vysya Bank has announced its new private banking head, reports Our Bureau. The appointment of Samir Bimal is the first major one after the bank appointed Mr Vaughn Richtor as its MD & CEO. Mr Bimal, who holds a master's degree in finance, has...

S'pore to allow SBI key banking licence.
MUMBAI: State Bank of India is expected to secure the qualified full bank (QFB) licence from the Monetary Authority of Singapore (MAS). Sources say that MAS is willing to tweak its admission criteria for SBI. To acquire a QFB licence, MAS requires that the country rating from...