Skip to content
Search

Latest Stories

SBI UK chief awarded Freedom of the City of London

SBI UK chief awarded Freedom of the City of London

STATE BANK OF INDIA’S UK regional head, Sharad Chandak, has been awarded the Freedom of the City of London in recognition of the bank's historic ties with the financial hub of Britain.

Chandak received the honour at a ceremony attended by the Lord Mayor of London, Vincent Keaveny, at the Mansion House in London on Thursday (31).

The Freedom of the City of London dates back to the 13th century and has since developed into an honour bestowed upon individuals who make an impact in the financial hub of London, referred to as the City or the Square Mile.

“I am delighted to receive the prestigious Freedom of the City of London honour and accept it as a token of the longstanding and enduring relationship between State Bank of India and the City of London,” said Chandak.

“It is also testimony to the lead role being played by SBI among the Indian banks in the UK and the fact that it has served corporates, small and mid businesses and retail customers over the past 100 years.

"This is also an honour for all the employees of SBI UK - present and past - who through their vision, dedication and professionalism established the brand of State Bank of India in the UK and strengthened the relationship of SBI and the City of London,” he said.

The ceremony follows a recent event at the Mansion House marking SBI's presence in the UK, which dates back to 1921.

“State Bank of India has completed 100 years of its operations in the UK. And this award is a zenith in our professional journey,” Chandak said.

The Freedom of the City of London is believed to have begun in 1237 and enabled recipients to carry out their trade in the city.

Today, it is given to individuals by the City of London Corporation to help celebrate a significant achievement, or to pay tribute to their outstanding contribution to London life or public life.

A previous Indian recipient of the honour is Jawaharlal Nehru, the first prime minister of India, and other prominent recipients include South African leader Nelson Mandela and Microsoft founder Bill Gates.

(PTI)

More For You

India's central bank cuts interest rates for first time since 2020

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.. (Photo credit: Reuters)

India's central bank cuts interest rates for first time since 2020

THE RESERVE BANK OF INDIA (RBI) reduced interest rates on Friday for the first time in nearly five years, citing concerns over economic growth despite inflation risks.

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.

Keep ReadingShow less
Sri Lanka seeks to negotiate with Adani over renewable energy plants

Gautam Adani

Sri Lanka seeks to negotiate with Adani over renewable energy plants

SRI LANKA’S government started talks with India’s Adani Group to lower the cost of power from two wind power projects the group will build in the island nation’s northern province, the cabinet spokesman said last Tuesday (28).

Sri Lanka has been reviewing the group’s local projects after US authorities in November accused billionaire founder Gautam Adani and other executives of being part of a scheme to pay bribes to secure Indian power supply contracts. Adani has denied the allegations.

Keep ReadingShow less
Bank-of-England-Getty

The BoE also revised its economic growth forecast for 2025, reducing it by half. (Photo credit: Getty Images)

Bank of England cuts rates, lowers growth outlook

THE BANK OF ENGLAND (BoE) has cut interest rates by 0.25 percentage points to 4.5 per cent, with some policymakers supporting a bigger reduction to counter economic slowdown. However, the central bank signalled a cautious approach to future cuts, citing inflation concerns and global uncertainty.

The BoE also revised its economic growth forecast for 2025, reducing it by half. Chancellor Rachel Reeves, who has been advocating for faster economic growth, faces a challenge as inflation is now projected to be nearly double the 2 per cent target this year.

Keep ReadingShow less
Indian billionaires and tech titans shake up English cricket with major investments in The Hundred

The Oval Invincibles, now co-owned by Mukesh Ambani, are two-time defending champions in the men’s 100-ball competition

Indian billionaires and tech titans shake up English cricket with major investments in The Hundred

INDIAN billionaires and Indian American tech tycoons are among new owners of franchises in the Hundred cricket league.

Mukesh Ambani, Nikesh Arora and Sanjiv Goenka have in recent days invested in English cricket by acquiring a minority share in some of the Hundred teams.

Keep ReadingShow less
Bank-of-England-Getty
A general view of the Bank of England on December 19, 2024 in London. (Photo credit: Getty Images)

Bank of England set to reduce interest rate amid weak growth

THE BANK OF ENGLAND is expected to cut its key interest rate on Thursday as it seeks to support weak economic growth, even though inflation remains above target.

Analysts predict the central bank will reduce borrowing costs by a quarter point to 4.50 per cent at its first rate meeting of the year.

Keep ReadingShow less