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HSBC News

23 Oct 2024

Meet Pam Kaur, Studied In Punjab University, HSBC’s 1st Female CFO In 160 Yrs

Born in India and graduating from Punjab University with an MBA in finance and a BCom (Hons), Pam is a Fellow member of The Institute of Chartered Accountants in England and Wales and lives in London with her husband.

08 Jun 2024

Byju's, Once Valued At $22 Billion, Is Now Worth "Zero”

The embattled edtech firm is struggling to pay employee salaries amid mounting legal battles.

Reserve Bank of India

29 May 2024

RBI Imposes Rs 36.38 Lakh Fine On HSBC Ltd For Violating Norms

After considering the facts of the case and the bank's reply in the matter, the RBI came to the conclusion that the violations were substantiated and warranted the imposition of penalty

26 Mar 2022

Earth Hour: Zomato, HSBC, IndiGo plan ‘Dine in the Dark ’, other initiatives

Zomato is encouraging all its employees to observe Earth Hour in their homes. Earth Hour started in 2007 as a one hour light’s out event in Australia’s Sydney. The event has now spread across 190 countries.

22 Feb 2022

HSBC's profit before tax from India rises marginally to USD 1.11 bn

Courtesy back-office operations, India retains the top ranking in terms of employees but the number of people employed declined by 1,000 to 38,000. The total number of employees had declined by 1,000 in 2020 as well. The 'corporate centre' function saw an increase in the overall profit contribution to USD 232 million as against USD 228 million.

23 Dec 2021

HSBC AMC to acquire L&T Mutual Fund for Rs 3,192 crore

HSBC AMC will acquire 100 per cent equity shares of LTFH. L&T Finance Holdings will also be entitled to excess cash in LTIM until the completion of the acquisition. L&T Investment Management (LTIM), a wholly-owned subsidiary of LTFH, is the investment manager of L&T Mutual Fund.

04 Aug 2021

IndiGo 15th anniversary sale: Flight fares start from Rs 915

Flyers need to buy tickets between the three day period which starts on August 4 and ends on August 6. Flyers need to select travel dates between September 1, 2021, and March 26, 2022. HSBC credit cardholders can get an additional 5 per cent cashback of up to Rs 750.

17 Jun 2020

HSBC revives 35,000 job cut plan after coronavirus outbreak

It will also maintain a freeze on almost all external hiring, Chief Executive Noel Quinn said in a memo sent to HSBC`s 235,000 staff worldwide on Wednesday.

06 Aug 2019

HSBC CEO steps down 18 months after appointment

With a market value of $159 billion, the London- and Hong Kong-listed lender is worth more than Citigroup, even though its stock has fallen under Flint's tenure.

04 Nov 2018

HSBC, Reliance execute first of its kind blockchain trade finance transaction

The blockchain platform was integrated with the electronic bill of lading (eBL) platform to issue and manage an electronic bill of lading, a company statement said.

25 Jun 2018

RBI may hike rates further to check inflation: HSBC

Earlier this month, the central bank had upped its retail inflation projection by 0.30 percent and kept the policy stance in the neutral zone, even as it hiked the key rate by 0.25 percent to 6.25 percent.

11 Jun 2018

HSBC to invest $15-17 billion by 2020 as strategy pivots to growth

The update marks a definitive pivot in HSBC`s post-2008 crisis strategy, from cost-cutting and restructuring to investment and expansion as it seeks to improve returns.

09 Jan 2018

IIT Kharagpur business school gets 112 campus offers

IIT Kharagpur have so far received a total of 112 offers from companies that include the likes of Wipro, HSBC, IBM and Deloitte.

India mid-market enterprises

03 Oct 2017

Over 70% mid-market firms confident on domestic economy: HSBC

Further, it found that more than half of the MMEs in India forecast that technology investments would be a lower priority in the next three years.

US central bank

30 Sep 2017

US fines HSBC $175 million for lax forex oversight

In an order, the Fed also directed HSBC to improve internal oversight measures and compliance with risk management requirements in its foreign exchange trading.

13 Sep 2017

HSBC's incoming chairman set to face CEO succession questions

Gulliver, who has been HSBC`s boss since 2011 and joined the bank 37 years ago, is due to step down next year.

31 Jul 2017

HSBC announces profit increase, share buyback in signs of turnaround

HSBC won approval last month in China to establish an investment banking joint venture with a state-backed fund, ending a 20-month wait, making it the first such venture in China to be majority-owned by a foreign bank.

15 May 2017

'Only 21% feel millennials will have comfortable retirement'

Only 21 per cent felt they are in a comfortable position for retirement, says a recent report, which puts them in difficult position in comparison to their elders.

03 May 2017

HSBC foreign accounts case: Govt raises Rs 5,419 crore tax demand

The government has raised tax demand of Rs 5,419 crore on individuals who had undisclosed offshore accounts with HSBC of which around Rs 337 crore has been recovered.

Reserve Bank of India

27 Apr 2017

RBI penalises HSBC, Kotak over violation FEMA

The Reserve Bank of India (RBI) on Wednesday imposed monetary penalty on the Hongkong and Shanghai Banking Corporation Ltd. and the Kotak Mahindra Bank for violation of instructions on reporting requirements of FEMA 1999.

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