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Upbeat on transaction banking business in India

July 13, 2023

Upbeat on transaction banking business in India
Standard Chartered Bank is upbeat on growing its transaction banking business in India and well positioned to tap the opportunities being offered by the country as a a popular manufacturing hub, said Kashinath Hariharan,the lender’s transaction banking MD for India and South Asia.

He further said though his bank has not been included for the Reserve Bank of India’s central bank digital currency (CBDC) pilot, it is keen on offering the product to its customers.
 
“Transaction banking significantly augments corporates’ business by creating a stable, granular and capital light revenue stream across payments and trade,” Hariharan stressed.
 
The MD said over the years the foreign lender has made significant investments in its technology platforms. He, however, did not share the quantum of investments made.
 
Presently, the bank’s transaction banking programmes include blue chip companies, startups, new-age firms and public sector institutions, he said.
 
The lender offers corporate services such as information technology-enabled solutions, shared service centres to manage regulatory filings, IATA pay for airlines or smart contract for real estate business. It also handles over a million trade transactions annually, he claimed.
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