The Reserve Bank of India (RBI) has rejected the application for certificate of registration of two finance firms of West Bengal and Andhra Pradesh. An RBI statement released recently said that Rapti Leasing (Howrah) and Leafin India (Hyderabad), cannot transact the business of a non-banking financial institution.

HSBC opens new branch

Hongkong and Shanghai Banking Corporation (HSBC) has recently opened a new branch in Hyderabad. The new branch will offer full range of corporate and personal banking products and services including car loans, home loans and depository services. The branch is equipped with a 24-hour ATM facility. "The citizens of Hyderabad expect world class banking services, which HSBC is proud to showcase," said the bank's CEO.