https://en.bharatpedia.org/w/index.php?action=history&feed=atom&title=Standard_Chartered_IndiaStandard Chartered India - Revision history2026-10-26T04:51:24ZRevision history for this page on the wikiMediaWiki 1.43.6https://en.bharatpedia.org/w/index.php?title=Standard_Chartered_India&diff=537487&oldid=prevKartikshina85855 at 14:36, 1 November 20252025-11-01T14:36:15Z<p></p>
<p><b>New page</b></p><div>{{Short description|Bank in India}}<br />
{{Infobox company<br />
| name = Standard Chartered India<br />
| image = Standard Chartered Bank Building (Grindlays Bank).jpg<br />
| image_size = 250px<br />
| image_alt = <br />
| image_caption = Standard Chartered Bank Building in Mumbai.<br />
| type = [[Branch (banking)|Branch]]<ref name = 'report' /><br />
| industry = [[Bank]], [[Financial services]]<br />
| foundation = {{Start date and age|df = yes|1853}}, incorporated in [[London]]<br />
| location_city = Bandra Kurla Complex, Bandra East, Mumbai, 400051<br />
| location_country= India<br />
| predecessor = [[Chartered Bank of India, Australia and China]]<br />
| key_people = Prabdev Singh ([[Chief Executive Officer|CEO]])<br />
| products = {{ublist | [[Credit card]]s | [[Retail banking]] | [[Commercial bank|Corporate banking]] | [[Mortgage loan]]s | [[Wealth management]]}}<br />
| net_income = {{increase}}{{INRConvert|21648|c}} (2023)<ref name=report/> <br />
| assets = {{increase}}{{INRConvert|237130|c}} (2023)<ref name=report/> <br />
| revenue = <br />
| num_employees = <br />
| parent = [[Standard Chartered]]|<br />
| homepage = {{URL|https://www.sc.bank.in}}<br />
}}<br />
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'''Standard Chartered India''' (officially '''Standard Chartered Bank India Branches''') is a foreign [[Branch (banking)|branch]] of [[Standard Chartered]], incorporated in the [[United Kingdom]] with limited liability.<ref name = 'report'>{{cite web |title=2023/2024 INDEPENDENT AUDITOR’S REPORT To The Country Management Team Standard Chartered Bank–India Branches |url=https://av.sc.com/in/content/docs/in-scb-annual-report-sheet.pdf |publisher=Standard Chartered India |access-date=3 November 2024}}</ref> It is considered as a foreign bank under the [[Banking Regulation Act, 1949]] and thus is regulated by the [[Reserve Bank of India]] (RBI). The bank has been operating in India for over 160 years, first as the [[Chartered Bank of India, Australia and China]] which set up its first branches in [[Kolkata]] and [[Mumbai]] in 1858. It is also the largest foreign bank in India, with 100 branches across 42 cities.<ref>{{cite news |last1=Simhan |first1=T. E. Raja |title=StanChart GBS to move all of its 16,000 employees in Chennai to a new integrated campus by 2025 |url=https://www.thehindubusinessline.com/money-and-banking/stanchart-gbs-to-move-all-of-its-16000-employees-in-chennai-to-a-new-integrated-campus-by-2025/article67561528.ece |access-date=3 November 2024 |work=BusinessLine |date=22 November 2023 |language=en}}</ref><ref>{{cite news |title=Standard Chartered appoints Aditya Mandloi as Head of Wealth and Retail Banking for India and South Asia |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/standard-chartered-appoints-aditya-mandloi-as-head-of-wealth-and-retail-banking-for-india-and-south-asia/articleshow/112526949.cms?from=mdr |access-date=5 November 2024 |work=The Economic Times |date=14 August 2024}}</ref><br />
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==History==<br />
{{see also|Chartered Bank of India, Australia and China}}<br />
[[File:Standard Chartered Bank 2008 stamp.jpg|thumb|180px|left|A 2008 stamp dedicated to the 150th anniversary of the Standard Chartered Bank of India]]<br />
The predecessor of Standard Chartered India is [[The Chartered Bank of India, Australia and China]] which is a bank incorporated in London in 1853 by [[James Wilson (businessman)|James Wilson]] following the grant of a [[Royal charter]] from [[Queen Victoria]].<ref name="book">{{cite book |last1=Campbell-Smith |first1=Duncan |title=Crossing continents: a history of Standard Chartered Bank |date=2021 |publisher=Allen Lane |location=London |isbn=0241458730 |url=https://www.tandfonline.com/doi/full/10.1080/00076791.2023.2254648 |access-date=3 November 2024}}</ref><br />
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The bank expanded rapidly by capitalising the lucrative trade between Europe and [[Far East]]. It also financed regional projects such as the [[Indo-European telegraph line]] from London to [[Calcutta]].<ref name=CB-H-03>[http://www.siemens.com/history/en/news/1069_indo-european_telegraph-line.htm Indo-European Telegraph line and impact of rapid industrialisation] {{Webarchive|url=https://web.archive.org/web/20130316061439/http://www.siemens.com/history/en/news/1069_indo-european_telegraph-line.htm |date=16 March 2013 }}. Siemens.com. Retrieved on 26 December 2018.</ref> In the early 20th century, the bank continued to tap on Asian business such as cotton from [[Bombay]], indigo and tea from Calcutta and rice from [[Burma]].<ref>{{cite journal |last1=Misra |first1=A.-M. |title='Business Culture' and Entrepreneurship in British India, 1860-1950 |journal=Modern Asian Studies |date=2000 |volume=34 |issue=2 |pages=333–348 |url=https://www.jstor.org/stable/313066 |access-date=3 November 2024 |issn=0026-749X}}</ref><br />
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In 1969, Chartered Bank merged with the [[Standard Bank (historic)|South African bank Standard Bank]], forming Standard Chartered Bank. After the merger, the Indian branch of the bank continued to handle the local business.<ref>{{cite news |agency=Press Association |title=Standard Chartered: a short history |url=https://www.theguardian.com/business/2012/aug/07/standard-chartered-short-history |access-date=3 November 2024 |work=The Guardian |date=7 August 2012}}</ref><br />
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In 2015, the bank announced its intention to be incorporated locally and become a [[Wholly Owned Subsidiary|wholly owned subsidiary]] (WOS).<ref>{{cite news |title=StanC to set up subsidiary in India |url=https://timesofindia.indiatimes.com/business/india-business/stanc-to-set-up-subsidiary-in-india/articleshow/49236260.cms |access-date=3 November 2024 |work=The Times of India |date=6 October 2015}}</ref> However, this plan has never been materialised and Standard Chartered India remained its status as a branch of foreign bank.<br />
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In 2024, the bank sold its 41 billion rupees personal loan portfolio to [[Kotak Mahindra Bank]], as part of its plan to refresh strategy to target at higher end business.<ref>{{cite news |title=StanChart Refreshes India Strategy to Target Wealthy |url=https://www.bloomberg.com/news/articles/2024-10-22/stanchart-refreshs-india-strategy-to-target-wealthy-add-staff |access-date=3 November 2024 |work=Bloomberg.com |date=22 October 2024 |language=en}}</ref> It is also announced that Zarin Daruwala, the bank's long-serving CEO since 2016, would retire in March 2025.<ref>{{cite news |last1=Rebello |first1=Joel |title=Zarin Daruwala to retire from Standard Chartered India |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/zarin-daruwala-to-retire-from-standard-chartered-india/articleshow/114069743.cms?from=mdr |access-date=3 November 2024 |work=The Economic Times |date=9 October 2024}}</ref><br />
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==References==<br />
{{reflist}}<br />
{{Portal|Banks}}<br />
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==Further reading==<br />
* Duncan Campbell-Smith (2021). ''Crossing Continents: A History of Standard Chartered Bank''.<br />
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{{Standard Chartered}}<br />
{{Banking in India}}<br />
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[[Category:Banks of India]]<br />
[[Category:Banking in India]]<br />
[[Category:Standard Chartered]]<br />
[[Category:Indian subsidiaries of foreign companies]]</div>Kartikshina85855