The transaction is expected to conclude within a few weeks and the proceeds will be used for the expansion of Fedbank Financial Services, people close to the deal told ET.
The rise in the rupee’s real effective exchange rate (REER) in the last four years has eroded export competitiveness especially in the absence of any special package to boost exports, it said.
Leaders from ASEAN will be chief guests at India’s Republic Day celebrations on Friday and HSBC wants to ensure it takes advantage of its vast network in the region.
The bank’s total advances grew 38 per cent as both, loans to companies as well as individuals rose.
The company’s retail loan book has increased 73 per cent year-on-year.
Operating profit tumbled as the trading revenue was squeezed amid a surge in bond yields in the quarter leading it to miss analysts’ expectations on earnings.
Banks have seven different tenors under MCLR ranging from overnight, one month, three months, six months, one year, two years and three years.
NBFCs are setting up MTN programme to tap overseas market,post success of masala bonds.
"One of the risks is the likelihood of inflation picking up a little faster than the Fed is expecting."
Though global economic growth recovered in 2017, India could not take advantage because of domestic disruptions caused by the implementation of the GST and demonetisation.
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