FIRSTRAND BANK
FirstRand Bank, South Africa's second largest bank, to exit India after 12 years
The news was broken to FirstRand staff via a video conference on Tuesday. In response to a query from ET India CEO Rohit Wahi shared a statement confirming the shut down of its only branch in Mumbai and a retreat into a limited representative office. The move is likely to impact at least 50 jobs in India.
FirstRand Bank decides not to lend to SMEs, to focus on Indo-Africa trade corridor
The bank will scale down its retail deposit franchise and stop lending to small and medium enterprises (SMEs) to concentrate on corporate and investment banking.
Top three reasons why rupee is gaining strength against USD
Most Asian currencies have been climbed against the US dollar, as traders bet the Fed might not raise interest rates in 2015.
Rupee slips to 2-year low on yuan devaluation; will it weaken further?
From Monday's close of Rs 63.87 against US dollar, the Indian unit has fallen 1.6% since the Chinese exchange rate move.
Rise in equity market from current levels is going to be gradual: K Harihar, FirstRand Bank
Typically when these kinds of things happen, you try to link it to a global factor or a local factor. If you look at the global factor, they have all worked in favour of the rupee.
RBI measures will take time to pay off : K Harihar, FirstRand Bank
Earlier when the market was looking at 58, we would probably look at slightly higher elevated level of 60-61 before the exporters decided to sell.
RBI measures will be reversed once Re corrects to 57-58/$: K Harihar, FirstRand Bank
"RBI would not probably tinker with either of the CRR or the repo, partly because initial measures are working," says K Harihar, FirstRand Bank.
Manipal Group ties up with Durban University of Technology for cooperation in education & training
Manipal Group, with the assistance of FirstRand Bank, has signed a MoU with Durban University of Technology in South Africa.
FirstRand Bank eyes break-even by next fiscal-end
FirstRand Bank India is hopeful of reaching the break-even point in its commercial banking services in India by next fiscal.
Rupee could breach 58-60 levels: K Harihar, FirstRand Bank
"Irrespective of what the RBI might do, the lasting move will only come when exporters start selling forward dollars," K Harihar of FirstRand Bank said.
FirstRand Bank India offers 7.25% interest on savings accounts
FirstRand Bank India (FRB) has announced to offer an interest rate of 7.25 per cent on savings accounts, a bank release said.
Rupee may test levels of 54/30: FirstRand Bank
When there is a trade deficit and capital flows do not cover the gap, rupee has to be obviously weaken. From that point of view, it might really weaken a bit more.
FirstRand bank enters into retail, commercial banking operations in India
FirstRand Bank today entered into retail and commercial banking operations in India with opening of a branch in the city.
Rupee strengthening unlikely to be a continued trend: K Harihar, FirstRand Bank
K Harihar, Treasurer, FirstRand Bank, in an interview with ET Now gives his perspective on rupee. Excerpts:-
There is a case of doing a 25 bps hike: K Harihar, FirstRand Bank
K Harihar, Treasurer, FirstRand Bank Ltd, in an interview with ET Now, speaks on whether or not the RBI is going to hike rates. Excerpts:
Bond yield at 2-year high as IPO sales drain funds
Ten-year bonds fell, pushing yields to the highest level in two years, on speculation share sales in state-owned companies will squeeze cash in banks.
Heard on the Street: Strategic stake sale buzz boosts JM Financial
Traders appear to be convinced that JM Financial will eventually offer stake to a strategic investor, even though the company has persistently denied any such plan.
Decoupling seems to be happening of rupee
In an interview to ET bureau, K Harihar, Treasurer, FirstRand Bank India, gives his views on the Euro and the impact any movement in the currency has on the rupee.
Rupee to trade in range of 46.40 to 46.90: K Harihar
In an interview to ET bureau, K Harihar, Treasurer, FirstRand Bank India, gives his views on the Euro and the impact any movement in the currency has on the rupee.
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