HSBC to Open 20 New Branches in India

Mumbai, Jan 17 (PTI) Eight years after it nearly halved its India presence to 26 branches, citing customer preference for digital banking, foreign lender HSBC on Friday announced a decision to open 20 new branches.

The London-headquartered lender has received the RBI approval for the new branches at different locations like Dehradun, Faridabad, Indore, Jalandhar, Kanpur, Ludhiana, Lucknow, Nashik, Patna, Rajkot and Vishakhapatnam, as per a statement.

"These new branches will help drive our International Wealth and Premier Banking proposition and build on our momentum with customers in India and our growing non-resident clientele around the world," its head for international wealth and premier banking Sandeep Batra said.

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*HCL Tech celebrates 25 years of listing




IT Services exporter HCL Tech on Friday celebrated 25 years of its listing.

Its chief executive and managing director C Vijayakumar said an investment of Rs 58,000 for subscribing to 100 shares of the company is valued at Rs 32 lakh today, and the shareholder would have also earned Rs 4.5 lakh in dividends during the time.

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* Union Mutual Fund launches Short Duration Fund - Debt Fund category


Union Mutual Fund on Friday marked its entry in the Short Duration Fund - Debt Fund category with the launch of an offering.

The 'Union Short Duration fund' will be an open-ended short-term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1-3 years, as per a statement.