Indian Private Banks Offer New Products; Seek New Business Avenues
Reuters India has extended its Reuters Trading for Foreign Exchange (RTFX) facility to YES Bank to introduce a new electronic trading service for corporates and other establishments in India.
The first-of-its kind service in India will be rendered to customers through YES Bank’s 40 branches who subscribe to the Reuters terminal.
The RTFX is a multi-bank portal which offers electronic forex trading
services. YES Bank will soon be going online with foreign exchange services
for establishments to facilitate real time foreign exchange trading.
The facility is expected to draw a large number of customers
from the corporate community who evinced interest in electronic
forex trading in a recent survey by Reuters.
YES Bank has adapted to
top-of-the line banking technology in all its branches and
hopes to bring business through this initiative.
Another leading bank, Standard Chartered launched its private
banking business seeking out high net worth individuals in
India.
Targeting the million dollar clients in Mumbai and six
other cities, the bank is confident of roping in investments
from the 83,000 millionaires in India with a combined worth
of USD 90 billion.
New recruits for the private banking division have
already been inducted to start operations.
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Photo: Banking Hall Entrance, Guardian Building, Griswold Street, Detroit by w_lemay, licensed under CC BY-SA 2.0, via Wikimedia Commons.
