Tuesday, April 1, 2008

The Financial Crowd : Barclays & PFC

It is our belief that financial sector in India will become broader and deeper. We will report this in a section called The Financial Crowd. And we will cheer, when one is added in The Financial Crowd.

Reuters reports through ET that Barclays will set up 100 strong private bank to serve rich enterpreneurs. "We have a successful investment bank in India and we have a very good offshore business with Indian clients and we are building an onshore private bank in India. The economy is growing at an incredible pace,” said Tom Kalaris, the chief executive of Barclays Wealth Management.

PFC on Monday floated a wholly-owned consultancy arm, PFC Consulting Ltd. to provide services in the power sector. PFC Consulting will provide services related to UMPP, including formation of special purpose vehicle. It would also conduct bidding process for awarding projects of state utilities.

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