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MOUNTING HNIs MAKE INDIA HUB FOR PVT BANKING (leading to banks trying to expand their private banking business in the country).
The increasing number of high net worth individuals (HNIs) in India is making the country a hub for private banking, with banks trying to expand their private banking business in the country. A report by Capegemini-Merrill Lynch shows that the number of HNIs has gone up to 1,26,700 from 70,000 in 2005. Standard Chartered Pvt Bank (India) is planning to expand to Hyderabad and Chandigarh by Mar 2011 from its current …
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