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Non-Tech : ICICI Ltd - (Nyse: IC) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (388)	3/15/2000 4:59:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 494

HSBC to start Internet banking asiapacific.hsbc.com MUMBAI, MARCH 15. The Hongkong and Shanghai Banking Corporation (HSBC) will commence Internet banking in India by end of the calendar year, a top bank official said today. "The HSBC group will invest $2 billion in technology to develop e-commerce initiatives across the globe", senior manager personal banking and cards, India area management office, Mr. Richard Cromwell, said at the launch of 'Premier', its global banking service, here today. However, HSBC's India specific website would be ready in a couple of months, Mr. Cromwell said. The bank would start offering customer services through the Internet this year, he said adding, net interactivity and services were already being provided in the U.S. and the U.K. As part of its plan to enhance customer service, the bank replaced its 'Assetvantage' scheme, launched in India in 1996 and operative only in Asian countries, with 'Premier', which includes many services for personal customers worldwide. "Premier is for high value personal customers with Rs. 25 lakhs of banking transaction value, which may be in the form of Rs. 20 lakhs in deposits/ investments and the remaining Rs. 5 lakhs can be loans", Mr. Cromwell said. This service would offer investment advice on mutual funds, broking services, tax, medical and legal advices, allow daily withdrawals of up to Rs. 1 lakh on Premier ATM card and free home banking services, among others. Premier was simultaneously introduced today in 17 countries including the U.S., the U.K., Hong Kong, Malaysia, Singapore and Qatar, Mr. Cromwell said adding the service would be extended to 65 other countries over time. HSBC is setting up two Premier centres in India, one each in Mumbai and Delhi, which would start full-fledged operations from June and July respectively. Premier services would be offered in 23 Indian branches out of the total 26, leaving out Visakhapatnam, Hyderabad and Thiruvananthapuram, manager liabilities and investment services, Mr. Sumit Dutta said. Non-resident Indians (NRIs), who register themselves as members of the scheme in their residing countries can avail benefits in 82 countries where HSBC has branches, Mr. Dutta said. The bank has also tied up globally with Mastercard International to provide emergency assistance in the form of cash advances, replacing lost or stolen passports and hotel reservations to premier customers travelling overseas, Mr. Cromwell said. Private banking portfolio of HSBC would work in synergy with the Premier centres, he said adding, the private banking customers would also be accorded Premier member status. - PTI