Speaking to The Financial Express, head of consumer banking-India Harpal S Dugal said that the second hand car financing was an important segment for Standard Chartered to have a presence if it has to become a comprehensive consumer finance company. Second-hand car market is increasingly getting itself organised and thereby opens new vistas for the companies financing consumer durables, he added.

Citi Bank, Maruti Countrywide, apart from a few non-banking finance companies and private financiers, are some of the players in this segment. With the entry of new cars, second hand car dealers expect greater activity in the Rs 4 lakh to Rs 5 lakh segment withmany car owners selling their existing car for the newer ones.

The bank has also initiated steps to remove the common perception among the people that Standard Chartered Bank is basically a `credit card bank'. Dugal said that the bank had many innovative products which are slowly being appreciated by its customers. Through its professional investment advice scheme, bank's investment counsellors enable the customers in the upper middle and upper class to plan their investments so as to suit their risk profile. For the purpose it has tied up with various mutual funds, he added.

The bank is also increasing its branch network so as to service the customers better and has specialised products for corporate and institutional accounts Dugal said while adding that the bank's treasury division continues to ranked number one by Euromoney (for the third time in four years) as the `best dealer of Indian rupeee'.