NRI Real Estate and Property Investment in India
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Indian Private Banks Offer New Products; Seek New Business Avenues
Monday, June 18, 2007

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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