Standard Chartered Bank buys 3% in India's United Stock Exchange

13 years, 1 month ago - March 22, 2011

Standard Chartered became the first foreign bank to invest in the USE

USE currently operates in the currency derivatives space and offers currency futures in all the four currency pairs permitted by Sebi. t is one of the only two stock exchanges in India to offer currency options on the USD-INR currency pair, a press release issued here stated.

Financial details of the transaction were not disclosed.

The Exchange is a unique public-private partnership with equity investments by both PSUs and the private sector. The Bombay Stock Exchange is also a strategic partner with the USE as it holds a 15 per cent stake and all its members are connected to the new USE platform, it added.

We also recommend

India tests-fires Agni-V, a nuclear-capable ICBM

India has successfully test-fired a long-range intercontinental ballistic missile (ICBM), the country's Defense Ministry said Thursday.

6 years, 3 months ago

Triple talaq: India court bans Islamic instant divorce

India's top court has ruled the practice of instant divorce in Islam unconstitutional, marking a major victory for women's rights activists.

6 years, 8 months ago

P Chidambaram: India ex-minister's home raided

India's top investigative agency has raided the homes of ex-finance minister P Chidambaram and his son in connection with a financial misconduct probe.

6 years, 11 months ago

Passengers can enjoy a gourmet platter on this luxury train in India

The country that boasts of Asia's largest rail network and possibly the world's highest passenger traffic, will soon roll out a premier train service between Mumbai and Goa — popular destinations on the west coast.

6 years, 11 months ago

The #AadharMemes all over the Indian web

India's biometric-based central identification system that started as a "voluntary" program for its billion-plus citizens in 2009 has now become inescapable.

7 years, 1 month ago

After Air India, IndiGo cancels Shiv Sena MP Ravindra Gaikwad's ticket

Shiv Sena Member of Parliament, Ravindra Gaikwad, in the news for slapping an Air India employee with his slippers, may be permanently barred from flying on the country's national carrier. The Osmanabad MP has refused to apologise for his behaviour. According to latest reports, Air India has cancelled Gaikwad's return ticket from Delhi to Pune.