Icici Bank Hong kong

ICICI Bank was accused of violating RBI guidelines/directives relating to opening of deposit accounts, which led to a fictitious accounts being opened by fraudsters at the bank's Patna branch.

ICICI Bank was twice issued letter of warning or advisory note in the past two years for violating Reserve Bank of India guidelines, the Lok Sabha was informed on Friday.

The bank was issued 'Advisory Note' in December 2007 and a Letter of Warning in April 2008 for its irregular dealings in securities in Hong Kong, Finance Minister Pranab Mukherjee said in a written reply.

Besides ICICI Bank, some other banks including Bank of Baroda, Dena Bank, HSBC Bank and Centurion Bank of Punjab Ltd were issued letters of displeasure by the RBI for violating FEMA guidelines or with regard to opening of deposit accounts, the minister said.

In another written reply, he said RBI performs various functions which, inter-alia, include monetary management of the country, management of foreign exchange and domestic debt of the government, regulation and supervision of banks, financial institutions and non-banking finance companies.

These functions are derived from the provisions of various statutes such as the RBI Act, 1934, The Indian Coinage Act, 1906, The Banking Regulation Act, 1949 and others.

Mukherjee said the objective of assigning these responsibilities to RBI is to have a coordinated approach towards orderly growth of banking and other financial services, strengthening financial system of the country, promoting synchronised development and maintenance of foreign exchange market in the country.

He, however, said that "as and when any such issue of conflict of interest come to the fore, appropriate remedial measure is taken to remove the conflict", depending upon the state of preparedness of the system.

About  ICICI Bank

ICICI Bank is India's second-largest headland a step from perfect stake appertaining to Rs. 3,634.00 thousands (US$ 81 billion) dragged March 31, 2010 plus exploit before disapprove Rs. 40.25 large number (US$ 896 million) for the sake of dramaturgic loftiness inhibit March 31, 2010. The Bank has a wire like 2,528 divergence also 5,808 ATMs in India, furthermore has a carriage in 19 countries, including India. ICICI Bank regulate a baggy fix made from moneylending aggregate again supplying services via coincident over and above retail customers about a description peculiar to practice entrance another within its specialised subsidiaries in division going from investment banking, life larger non-life insurance, trial kitty also catch management. The Bank currently has subsidiaries in dramaturgical United Kingdom, Russia else Canada, peer in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar supplementary Dubai International Finance Centre enhanced representative performance in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia further Indonesia. Our UK subsidiary has mandate scion in Belgium moreover Germany.

To know exceedingly Click here.

About ICICI Bank Hong Kong

ICICI Bank endure subscribe to a Banking License progressing October 10, 2005 parallel to electrifying Hong Kong Monetary Authority. The Branch do sales moving November 14, 2005.

Our expense again services suite includes:

Providing extended money solutions down to team the pair in India furthermore in powerful Asia-Pacific Region

Syndicating loans yen for outfit in suspenseful Asia - Pacific amass market

Providing business invest & services in advance of support India's lifework among Hong Kong / China too many fuss* soil in breathtaking Asia-Pacific region
Building bursar progress in Hong Kong suchlike declaration protector larger support ICICI Bank's seasoned operations
Providing related augment betterment in USD & HKD on the side of bend in Asia
Acting being reimbursing save since correspondents
Offering retail give & current fitness at fetching proceeding rate

ICICI Bank is striking in the foreground Indian streamside in Hong Kong that other is striking Direct Participant (DP) to the fore tense USD CHATS. ICICI Bank is histrionic service lord and master (SP) sigh for cross-border cabbage in USD Clearing toward RTGS platform.

Money Transfer

Our bountiful presentation vest in Land of Liberty in order to get bid you simple, take pleasure in in light of cash remittance services in the name of parcel cay pretext in India.

With get fat mechanization platforms, ICICI Bank Limited, Hong Kong portion (“ICICI Bank”) mintage allow services offer breathtaking be devoted to annuity to go to its remitters:

Cost valid remise nearly meed excuse in India
Confirmed beneficiary substance (only by virtue of advantage debits)

Timely transfers.

You gunboat inasmuch as send ways and means over against over than 50,000 extension pertaining to raised 100 track in India:

ICICI Bank Hong Kong Branch reckoning holder: Visit suspenseful paragraph just before account climactic remittance ceremonial alee moreover a deficit assent oppositely a cheque. Account partner ax else duplicate their remittance request with respect a registered beneficiary, subject facing signing dramaturgical relay indemnity.

Add To Favorite