Multiple choice

Which of the following multinational banks was in news for raising Rs. 2,700 crore through an Indian Depository Receipt (IDR) issue?

  1. Standard Chartered Bank

  2. Barclays Bank

  3. Citigroup

  4. HSBC Bank

  5. Royal Bank of Scotland
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A Correct answer
Explanation

UK   based    multinational   bank   Standard Chartered PLC raised Rs 2700 crore through its Indian Depository Receipts (IDR) issue in May 2010. The bank that has presence in 70 countries across the world has had operations in India for the last 152 years with its first branch in Kolkata in 1858.  India accounted for 20 per cent of Standard Chartered's profits in 2009 calender year.

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