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 StanChart close to buying RBS assets inIndia (the acquisition is estimated to cost about $100 million)
August 5
Standard Chartered (StanChart) has emerged the preferred bidder for acquiring the retail and commercial banking business of Royal Bank of Scotland (RBS) in India. The acquisition is estimated to cost about $100 million. The retail and commercial banking division employs about 2,000 people in India. RBS plans to retain global banking and markets, global transaction services and wealth management businesses along with its back-office.
Source: Business Standard
 ANZ to pursue retail banking in India (has sought permission from the RBI)
August 5
The Australia and New Zealand Banking Group (ANZ) has sought permission from the Reserve Bank of India (RBI) to pursue retail banking in India. The bank has technology and back-office operations in Bangalore employing about 3,500 people. The bank has a presence through ANZ Capital, a non-banking finance company focused on trade finance and corporate banking.
Source: Business Standard
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Tata Capital to help companies raise resources from Japan (to help raise funds through equity, debt and structured deals)
August 11
Tata Capital Ltd has formed an alliance with Japanese investment bank Mizuho Securities to help Indian companies raise resources from retail investors in Japan through equity, debt and structured deals. Indian firms have so been tapping the Japanese market for funds by placing Samurai Bonds with institutional investors. The Tata Capital-Mizuho Securities alliance would also help international investors find investment opportunities in Indian equity markets.
Source: Business Line
Investors positive on domestic market growth: JP Morgan (Investment Confidence Index was at 135.9 as at the end of Jul 2009)
August 13
Investors in India are optimistic on the growth of Indian market. JP Morgan Asset Management has stated this as a result of its survey, Investment Confidence Index (ICI) on the domestic markets done along with Value Notes, a market research agency. As per its findings, 48 percent of retail investors expect their income to increase and make further investments in the coming six months. The index, as at the end of Jul 2009, was at 135.9. Chennai topped in retail investor confidence at 160.2, while in Hyderabad was at low of 98.1.
Source: Financial Express
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TVS motors sets up retail financing arm (the new company is expected to start functioning by Mar 2010)
August 18
TVS Motor Company Ltd has set up a subsidiary, TVS Motor Services Ltd, to provide retail financing. The company is waiting for the approval of the RBI. The new company is likely to start functioning by Mar 2010. TVS is also planning to set up an engine testing facility in Hosur. The company intends to launch an automatic scooter and a motorcycle by Dec 2009.
Source: Business Line.
Now pay IT at Corp Bank ATMs (the bank has about four million debit card holders)
August 19
Corporation Bank has launched a facility through which its retail customers can make income-tax payments at any of the bank's 1,037 ATMs in India. The bank has about four million debit card holders, of which about two million could pay income-tax through ATMs. Customers would need to make a one-time registration and provide details such as debit card number, permanent account number, e-mail and address.
Source: Business Line.
E-transactions gain ground (retail electronic transactions increased by 28%)
August 28
A large number of people are moving to electronic mode of fund transfer. According to the Reserve Bank of India (RBI), the number of cheques processed declined by five percent to 1.14 billion in 2008-2009 (1.20 billion in 2007-2008). The value of cleared cheques declined by three percent. Retail electronic transactions increased by 28 percent to 280 million. Real Time Gross Settlement (RTGS) reported a 27 percent growth in transactions to 35.2 million (27.7 million). To promote electronic payments, the RBI has extended the waiver on charges for processing electronic payments product for a period of one year up to 31 Mar 2010. The use of card-based payments increased by 22.3 percent in volume and by 19 percent in value in 2008-2009 mainly attributed to growth in debit card transactions.
Source: Business Standard.
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SREI Infra’s W.Asia plans (alliance with Waha Leasing to expand its business)
August 31
Srei Infrastructure Finance Ltd plans to start operations in Dubai by end of 2009-2010 to cater to the infrastructure equipment finance markets in West Asia. The Indian company has entered into an alliance with Waha Leasing to expand its business in West Asia. They intend to set up an office in Dubai to cater to Saudi Arabia, Bahrain and Oman. Offices will be opened in other locations at a later stage.
Source: Business Line
Flu fallout: healthcover companies eye surge (as existing health insurance policies cover hospitalisation expenses of patients affected by the flu)
August 28
The pandemic caused by the H1N1 viral infection (swine flu) has led to many insurance companies expecting an increase in sale of health insurance products during the coming months. Existing health insurance policies cover hospitalisation expenses of patients affected by the flu. The insurers are yet to see any jump in claims for the flu as most of the cases till now have been treated in government hospitals.
Source: Economic Times
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BSE launches IPO Index (to track stocks with free float of over Rs100 crore on the listing day)
August 25
The Bombay Stock Exchange (BSE) has launched an initial public offer (IPO) index to track the value of stocks for two years. The IPO index will track stocks with free float of over Rs100 crore on the listing day. The IPO index has 48 stocks and a stock can have a maximum weightage of 20 percent. The BSE has set the base index value at 1,000 points as on 3 May 2004. The IPO index closed at 1,947.5 on 24 Aug 2009.
Source: Business Line
Rabo provides Rs 500 million to Spandana (likely to enable rural micro-finance clients to avail of micro- credit loans)
August 25
Rabo India has provided a Rs50-crore credit facility to Spandana Sphoorty Financial. The credit facility is likely to enable about 50,000 rural micro-finance clients to avail of micro-credit loans.
Source: Business Standard
Bajaj Allianz sets shop in J&K (likely to settle motor insurance claims up to Rs20,000 within 24 hours)
August 21
Bajaj Allianz General Insurance Company has launched a service aimed at settling motor insurance claims up to Rs20,000 within 24 hours in Jammu and Kashmir. The service, Bajaj Allianz Drive In Centre (BADIC), would cover small motor claims up to Rs. 20,000 besides limiting the role and influence of the repairer in claim settlement process.
Source: Business Standard
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Ad Watch
Kotak Mahindra
The TVC opens with a couple at a shopping center, where the husband meets one of his friends. He hugs and greets him and make him meet his wife. At the payment counter, he decides to pay for his friends shopping as well.
 
The wife smiles at this gesture of her husband. VO: "Ye to Dildaar hi rahenge." VO: "Aap aaiye Kotak Mahindra Bank mein."
VO: "leejiye humare sath kuch chhote simple kadam taki aap rahein Befikr."
 
The TVC ends with a super: "Kotak Mahindra Bank - Lets make money simple."
 
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