THE STUDY OF VARIOUS FINANCIAL PRODUCTS OFFERED BY STANDARD CHARTERED BANK

Submitted in Partial Fulfilment for the Award of the Degree of Bachelor in Business Administration 2010-2012

Under the guidance of: Submitted by:

Mr. Manoj Verma

(senior scale)

Maharaja Agrasen Institute of Management Studies

Affiliated to Guru Gobind Singh Indraprastha University, Delhi

PSP Area, Plot No.1, Sector-22, Rohini-Delhi 110086

STUDENT DECLARATION

This is to certify that I have completed the Summer Project titled ―THE STUDY OF STANDARD CHARTERED BANK‖ under the guidance of ―Mr. Manoj Verma‖ in partial fulfilment of the requirement for the award of Degree of Bachelor of Business Administration at Maharaja Agrasen Institute of Management Studies, Delhi. This is an original piece of work and I have not submitted it earlier elsewhere.

Date: 21st October, 2010 Signature:

Place: Delhi Name:

CERTIFICATE FROM THE INSTITUTE GUIDE

This is to certify that the summer project titled ―THE STUDY OF STANDARD CHARTERED BANK‖ is an academic work done by ―‖ submitted in the partial fulfilment of the requirement for the award of the degree of Bachelor of Business Administration at Maharaja Agrasen Institute of Management Studies, Delhi, under my guidance and direction.

To the best of my knowledge and belief the data and information presented by her in the project has not been submitted earlier.

Signature:

Name of the Faculty: Mr. Manoj Verma

Designation: Assistant professor (senior scale)

ACKNOWLEDGEMENT

I gratefully acknowledges the valuable contribution of the following persons in completing my project report. They have been a great help and support in making my project. I am very thankful to them.

Mr. Manoj Verma my project supervisor, Mr. Nitin Ahuja Bank Manager of Standard Chartered Bank, Mrs.Bhawna Bagga for guiding me to study over this topic, Mr. Raj kumar Arora for the printing of this project and last but not the least Mr. R.L. Shah for the binding of this project report.

I am very thankful for their contribution in making this project report a success. I highly obliged to have their guidance and help. Without their contribution I would not be able to complete this project report successfully.

RESEARCH METHODOLOGY

The research of this project is entirely based on the secondary data sources. The major source of this research is the information available on the internet. Also from the help of various people and officials of the Standard Chartered Bank. The officials gave me the information in the exploratory form of research.

The data collected is of secondary form and the instruments which are used are Inventories, Questionnaires, Public feedback.

The method for collecting the data information is Personal Interview, Telephone and E-mail.

TABLE OF CONTENTS

S.NO. PARTICULARS PAGE NO. 1 Introduction about the project 1 2 History of standard chartered bank 2 3 Recent alliances and Developments 4 4 Global market products 7 5 Personal Banking 8 6 International Trade Account 10 7 Home saver plus- A unique feature 11 8 Home loan solutions 16 9 Breeze- a unique facility 18 10 Credit Cards services 20 11 Payment Services 24 12 ATM Services 26 13 Standard Chartered Marathon 29 14 Standard Chartered Bank- workplace in HIV Education 31 15 Hard Times 33

INTRODUCTION

The project is about The Standard Chartered Bank. This includes the detail study and analysis of the bank. The working of the bank, how it caters the need of the public is clearly mentioned here in this project. The bank performs its functions on the basis of rules and regulations set by The Reserve Bank of India (R.B.I.).

The Standard Chartered Bank is a British financial services company which has its headquarter in London, England. It performs its operations in more than seventy countries. It operates a network of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) and employs around 80,000 people worldwide.

Despite having a British base, it has only few customers in the United Kingdom and around 90% of its profits come from Asia, Africa, and the Middle East. Because the bank's history is entwined with the development of the British Empire, its operations lie predominantly in former British colonies, though over the past two decades it has expanded into countries that have historically had little British influence. It aims to provide a safe regulatory bridge between these developing economies.

It now focuses on consumer, corporate, and institutional banking, and on the provision of treasury services—areas in which the Group had particular strength and expertise.Standard Chartered have recently signed a four-year sponsorship deal with the football club Liverpool F.C, which started on 1 July 2010.Standard Chartered is listed on the London Stock Exchange, Hong Kong Stock Exchange and the Indian Stock Exchanges and is a constituent of the FTSE 100 Index. Its largest shareholder is Temasek Holdings.

The Standard Chartered Bank has now introduced a new scheme named ‗Breeze‘.Breeze is a whole new way of banking that lets you manage your money like never before. Enjoy the flexibility of customising how you see, move and keep track of your money. That's right - we put you back in control of your bank account! Best of all, we do it in a language that you can understand.

STANDARD CHARTERED BANK – The History

The name ―Standard Chartered‖ comes from the two original banks from which it was founded and which merged in 1969 — The Chartered Bank of India, Australia and China, and The Standard Bank of British South Africa.

THE CHARTERED BANK

The Chartered Bank was founded by Scotsman James Wilson following the grant of a Royal Charter by Queen Victoria in 1853.The Chartered bank opened its first branches in Mumbai (Bombay), Kolkata and Shanghai in 1858, followed by Hong Kong and Singapore in 1859. With the opening of the Suez Canal in 1869 and the extension of the telegraph to China in 1871, Chartered was well placed to expand and develop its business.

In 1957 Chartered Bank bought the Eastern Bank together with the Ionian Bank's Cyprus Branches. This established a presence in the Gulf.

The traditional trade was in cotton from Mumbai (Bombay), indigo and tea from Kolkata, rice from Burma, sugar from Java, tobacco from Sumatra, hemp from Manila and silk from Yokohama.

THE STANDARD BANK

The Standard Bank was founded in the Cape Province of South Africa in 1862 by another Scotsman John Paterson. The Standard Bank commenced its business in Port Elizabeth, in January 1863. In South Africa, Standard, having established a considerable number of branches was prominent in financing the development of the diamond fields of Kimberley from 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Half the output of the second largest gold field in the world passed through The Standard Bank on its way to London.

The bank expanded in Southern, Central and Eastern Africa by 1953 and had around 600 offices.

In 1965, it merged with the Bank of West Africa, expanding its operations into various other countries such as Cameroon, Gambia, Ghana, Nigeria and Sierra Leone.

From the early 1990s, Standard Chartered has focused on developing its strong franchises in Asia, Africa and the Middle East. It has concentrated on consumer, corporate and institutional banking and on the provision of treasury services - areas in which the Group had particular strength and expertise.

Both companies were keen to capitalise on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods from the East to Europe. In those early years, both banks prospered. Standard Chartered Bank has a major branch in Kolkata. Both banks – at that time still quite separate companies – survived the First World War and the Depression, but were directly affected by the wider conflict of the Second World War in terms of loss of business and closure of branches. There was also longer term effects for both banks as countries in Asia and Africa gained their independence in the ‗40s till ‗60s.

Each had acquired other small banks along the way and spread their networks further. In 1969, the banks decided to merge and to counterbalance their existing network by expanding in Europe and the United States, while continuing their expansion in their traditional markets in Asia and Africa.

In 1986 Lloyds Bank of the United Kingdom made a hostile takeover bid for the Group. The bid was defeated however it spurred Standard Chartered into a period of change, including a series of divestments notably in the United States and South Africa.

RECENT ALLIANCES AND DEVELOPMENTS

In 2000, Standard Chartered acquired Grindlays Bank from ANZ Bank, increasing its presence in private banking and further expanding its operations in India and Pakistan. Standard Chartered retained Grindlays' private banking operations in London and Luxembourg and the subsidiary in Jersey, all of which it integrated into its own private bank. This now serves high net worth customers in Hong Kong, Dubai, and Johannesburg under the name Standard Chartered Grindlays Offshore Financial Services. In India, Standard Chartered integrated most of Grindlays' operations, making Standard Chartered the largest foreign bank in the country.

On 15 April 2005, the bank acquired Korea First Bank by beating HSBC in the bid. Since then the bank has rebranded the branches as SC First Bank.

Standard Chartered completed the integration of its Bangkok branch and Standard Chartered Nakornthon Bank in October, renaming the new entity Standard Chartered Bank (Thailand). Standard Chartered also formed strategic alliances with Fleming Family & Partners to expand private wealth management in Asia and the Middle East, and acquired stakes in ACB Vietnam, Travelex,American Express Bank in Bangladesh and Bohai Bank in China. on 9 August 2006 Standard Chartered announced that it had acquired an 81% shareholding in the Union Bank of Pakistan in a deal ultimately worth $511 million. This deal represented the first acquisition by a foreign firm of a Pakistani bank and the merged bank, Standard Chartered Bank (Pakistan), is now Pakistan's sixth largest bank.

On 22 October 2006 Standard Chartered announced that it had received tenders for more than 51 per cent of the issued share capital of Hsinchu International Bank (―Hsinchu‖), established in 1948 in Hsinchu city in Taiwan. Standard Chartered, which had first entered Taiwan in 1985, acquired majority ownership of the bank. Prior to the merger, Hsinchu was Taiwan's seventh largest private sector bank by loans and deposits as at 30 June 2006, but had suffered extensive losses on defaulted credit card debt. Standard Chartered merged its existing three branches with Hsinchu's 83, and then delisted Hsinchu International Bank, changing the bank's name to Standard Chartered Bank (Taiwan) Limited. Today Standard Chartered is the largest foreign bank in Taiwan in terms of branch network.

In 2007, Standard Chartered opened its Private Banking global headquarters in Singapore.

On 23 August 2007 Standard Chartered entered into an agreement to buy a 49 percent share of an Indian brokerage firm (UTI Securities) for $36 million in cash from Securities Trading Corporation of India Ltd., with the option to raise its stake to 75 percent in 2008 and, if both partners agree, to 100 percent by 2010. UTI Securities offers brokering, wealth management and investment banking services across 60 Indian cities.

On 29 February 2008, Standard Chartered PLC announced it had received all the required approvals leading to the completion of its acquisition of American Express Bank Ltd (AEB) from the American Express Company (AXP). The total cash consideration for the acquisition is US$823 million.

On 13 November 2008, Standard Chartered PLC announces that its subsidiary, Standard Chartered Bank (Hong Kong) Limited, has entered into an agreement to acquire 100 per cent of Cazenove Asia Limited, a leading Asian equity capital markets, corporate finance and institutional brokerage business, from JPMorgan Cazenove.

On 12 September 2009, The Times newspaper in the United Kingdom reported that Standard Chartered had signed a record equaling £20million a season sponsorship deal with Liverpool FC to commence at the start of the 2010/11 Premier League season and last for four years, in a deal equally the record amount set by Manchester United's sponsorship deal with insurance giant Aon. Liverpool football club announced on the club's official website on 14 September 2009 that Standard Chartered bank will be the new shirt sponsor starting from 1 July 2010 to 2014, ending their 18-year sponsorship by Carlsberg Group.

On 27 November 2009, Dow Jones Financial News reported the city of Dubai will restructure its largest corporate entity. Amongst international banks, Standard Chartered has one of the largest loan portfolios in the Dubai market and the UAE as a whole, estimated to be $7.77bn in total. This amounts to 4.2% of Standard Chartered's total loans outstanding.Recently, standard chartered tapped the Indian market with its first ever IDR issue. Other impacted banks included HSBC, Barclays, and RBS. However, Standard Chartered said that any impairment arising from this exposure would not be material .

Standard Chartered announced an agreement on 27 April 2010 to buy the African custody business from Barclays PLC. This was to provide the bank with custody capabilities in its markets across Africa.

On 13 May 2010, Standard Chartered PLC launches first-ever Indian Depository Receipt ―IDR‖ offer.

On 17 June 2010, Standard Chartered Bank And Agricultural Bank of China Strengthen Strategic Partnership. Hong Kong has been identified as a potential pilot region for the two banks‘ co-operation journey. Standard Chartered‘s and ABC‘s aim is to co-operate to provide their corporate and individual customers with world class financial markets products. A joint co-operation committee will be formed by both banks to drive the strategic direction of the partnership. The committee will be co-chaired by Mr Peter Sands, CEO of Standard Chartered, and Mr Zhang Yun, President of ABC.

GLOBAL MARKET PRODUCTS

BREEZE- A UNIQUE FEATURE

Banking is now a Breeze

Breeze is a whole new way of banking that lets you manage your money like never before. Enjoy the flexibility of customising how you see, move and keep track of your money. That's right – it put you back in control of your bank account! Best of all, it do it in a language that you can understand. It helps in better management of money.

See your money

Breeze lets you see your bank accounts and transaction activities at a glance - from the big picture to the smallest details! Keeping track of your money has never been easier. It gives the clear picture of all the activities performed by the bank at one go.

Move your money

With Breeze, you can pay your bills, transfer funds and manage your savings with just a few clicks. We put the control of your bank account right at your fingertips! It saves time in todays fast pace life cycle. One can do anything in just few minutes rather than going to the bank and standing in queues for hours.

Manage your money

Breeze lets you manage your money the way you want - wherever, whenever you want. It's banking with flexibility and simplicity - and without the jargon, of course! One can access to his/her money anywhere he or she wants. This facility is not geographically bounded. Top 3 reasons to use Breeze:

1. It‘s simple – Breeze is banking without the jargon – we use everyday language that anyone can understand. 2. It‘s personal – Breeze empowers you by letting you personalise your banking experience according to your preferences. 3. It‘s convenient – Breeze lets you take care of your daily banking needs – wherever, whenever you want. You can send a Bank Cheque virtually and pay bills on the go.

INTERNATIONAL TRADE ACCOUNT

With an International Trade Account, you'll spend less on banking and more on your business.

The hectic paperwork reduces and makes the work simpler. One can devote his/her time and money both on his/her business as the international trade account facility provided by the standard chartered bank works on the behalf of the person.

The International Trade Account is specially created to make transactions as economical and easy as possible. With preferential Foreign Exchange and remittance rates, up-to-date market advice and access to trade specialists, you'll find you have more time, and money, to invest in your business and secure your future.

As the right partner for small to medium-sized businesses in international trade, Standard Chartered understands that your business needs sound financial solutions to keep moving forward.

Whether your business transactions are large or small, and particularly if you're in the import or export business, International Trade Account provides a comprehensive range of services to help you lower your cost of business. CREDIT CARDS

With a banking heritage spanning more than 150 years, Standard Chartered Bank has an extensive global reach and a strong position in emerging markets. SriLankan Airlines, have now joined forces with Standard Chartered Bank, to provide you with a range of unmatched products in the financial services industry, with the introduction of the Standard Chartered FlySmiLes Credit Card - a co- branded card, combined with enhanced travel rewards and a range of exclusive benefits.

With worldwide acceptance and easy access to cash from ATMs (50% of approved limit) the Standard Chartered FlySmiLes Credit Card gives you the freedom to spend on anything from groceries to clothing, jewellery to dining, furniture to family entertainment, and enjoy a truly rewarding experience by earning 1 FlySmiLes mile for every Rs.100 spent.

Please call 2480480 and find out how you can apply for a Standard Chartered FlySmiLes Credit Card, or simply visit one of our branches.

Benefits and Privileges you are entitled to with your Standard Chartered FlySmiLes Credit Card

▪ The Standard Chartered FlySmiLes credit card earns you one FlySmiLes mile for every Rs100/- spent with your Standard Chartered FlySmiLes credit card. ▪ Exclusive discounts and round-the-year offers at a wide range of establishments through the Super Savers program ▪ Free automatic Travel Insurance up to USD100,000 for all Gold Cardholders ▪ Smart Cheque is a revolutionary service that lets you obtain a cheque which will be issued by debiting your credit card. If you hold a Standard Chartered FlySmiLes Credit Card all you need to do is call the Bank and request one. ▪ 0 % Interest – Instant Instalment Scheme at a wide range of establishments island-wide ▪ Pay your utility bills such as water, electricity, mobile phone bills etc free of charge with Phone Banking ▪ Worldwide acceptance and easy access to cash from ATMs (50% of approved limit) ▪ Secure your outstanding with Safety Net Insurance (Re payment protector) ▪ Safeguard yourself against possible loss of your wallet with Smart Wallet Receive your credit card statement free of charge to your preferred e-mail address with e-statements.

Standard Chartered Bank entered into an agreement with Asia Miles to offer its Gold Credit Cardholders even more redemption options on their Bonus Points program. Cardholders can now convert their Bonus Points to Asia Miles.

"We are delighted to partner with Asia Miles. Cardholders can now earn Asia Miles on their day to day purchases with the Standard Chartered Gold Credit Card. Asia Miles has numerous items available for redemption.

Members can choose from flights and holiday packages to electronic items and lifestyle awards. We are confident that this will be much appreciated by our cardholders as it enhances the value proposition of the Bonus Points program.

We believe being the right partner to our customers and this is yet another initiative in rewarding our Cardholders," said General Manager, Retail Banking Products, Sheahan Arasaratnam.

The bank's Bonus Points programme offers true value to cardholders and has gained much popularity in the market.

Every Rs. 100 spent on purchases both locally and overseas is rewarded with one Bonus Point. Cardholders have the privilege of earning one full rupee for every Bonus Point earned.

Now with the addition of Asia Miles, Standard Chartered Gold Cardholders can opt to redeem the accumulated bonus points for Asia Miles. One Bonus point will equal One Asia Mile.

Asia Miles is Asia's leading Travel Reward Programand has more than 300 partners worldwide in nine partner categories: airlines, finance and insurance, hotels, telecoms, cars and transport, retail, dining, travel and leisure as well as professional services.

"Asia Miles has been working with Standard Chartered for many years and in over five countries. We are delighted to extend this partnership to Sri Lanka which will offer Standard Chartered Gold Credit Cardholders yet another option for earning and redeeming Bonus Points.

I'm sure with the ease of earning Asia Miles and given our wide range of 400 redemption items available for redemption, cardholders will be very pleased," said General Manager, Asia Miles, Paul Loo.

The Standard Chartered Cardholders will also continue to enjoy the privilege of redeeming their Bonus Points at a range of participating establishments including ODEL, Arpico Super Centers and Superstores, Hameedia, Mondi, Addidas, NOLIMIT, Beverly Street, Exclusive Lines, Stone N String, selected restaurants at the Hilton Colombo, Trans Asia, Cinnamon Grand, The Mango Tree, 168 Seafood Palace, Pizza Hut, Angsana City Club and spa, The Sanctuary Spa, Alpha Orient, Vijitha Yapa, Triumph etc.

Additionally cardholders could even use the Bonus Points they earn to help a less fortunate person enjoy the gift of sight by donating them to Standard Chartered Bank's 'Seeing is Believing' project.

HOME LOAN SOLUTIONS

Do you want to own your home faster and with more ease? At Standard Chartered Bank, we will help you own your home in 1/2 the time at 1/2 the cost.

With MortgageOne, your deposits and mortgage account are all rolled into one, enabling you to own your home in the fastest and most flexible way.

What is MortgageOne?

MortgageOne is a brand new home loan solution from Standard Chartered Bank. Deposits – your spare cash or salary, made into the account goes directly towards reducing your outstanding loan balance. As the amount of interest you pay decreases, your loan tenor is also shortened. Every dollar you deposit into your account will work harder to save you money.

Do you want to own your home faster and with more ease? At Standard Chartered Bank, we will help you own your home in 1/2 the time at 1/2 the cost.

With MortgageOne, your deposits and mortgage account are all rolled into one, enabling you to own your home in the fastest and most flexible way.

MortgageOne Product Features

 Interest Savings

The deposits in your account will go towards reducing the outstanding loan amount. Interest will only be calculated on the net loan amount. Interest is computated daily to ensure that every dollar deposited goes towards reducing your interest payment.  Flexibility

The MortgageOne account works just like any other deposit account. You can withdraw your deposits at anytime, at your convenience.

 Shorter Loan Tenor

By paying less interest every month, more of your deposit balance will be used to pay off the outstanding loan principal. Compared with a conventional mortgage loan, less time is required to payoff your mortgage loan. The faster you payoff the loan, the sooner you'll own your home.

 One Stop financial Tool

With your deposit and mortgage account rolled into one, MortgageOne allows you to effectively management your funds, optimizing the returns from your every dollar.

MortgageOne Example

Case1:John is 25 years old,with a stable job. He will be applying for 1 million mortgage loan for his new home. Though John has no savings once he pays off the down-payment, he will still be able to save RMB 3,000 each month.

HOMESAVER PLUS – A UNIQUE FACILITY

HomeSaver Plus maximizes the interest earned and reduces the interest payable on your home loan, helping you and your family manage investments in a smarter way.Success can take years to build, but with wise financial management it can benefit generations.

The HomeSaver Plus product, another innovation from Standard Chartered Bank is for those looking to secure their and their family‘s future through efficient money management. It is a one-stop financial management tool that automatically moves your savings / current account balances around to best offset your Home Loan so as to minimize your interest costs and maximize your interest earned.

The table shows how you can maximize your interest savings with HomeSaver Plus compared to an ordinary home loan.

Home Loan HomeSaver Plus

Loan Amount 25 lakhs 25 lakhs

Rate of Interest 11% 11.75%

EMI 25,805 27,093 Loan Tenure (months) 240 112

Total Interest Repaid 36.9 lakhs 16.1 lakhs

Effective Interest Rate 11% 8.57%

The unique proposition of HomeSaver Plus is that not only can you link your multiple current / savings accounts and multiple Home Loans but also your family members (who are co-applicants on the loan). Any amount deposited to the accounts in HomeSaver Plus directly reduces your loan‘s outstanding balance. Your loan interest is calculated on the outstanding loan principal of the month (minus your current / savings account balances). As the principal is lowered, it also reduces the amount of interest payable, and the effective interest rate as well.

HomeSaver Plus is packed with intelligence, convenience, flexibility and substantial savings in the long term.

 Intelligence Plus This state-of-the-art technological feature determines which account earns / saves interest for the customer. Funds are swept on a daily basis from the lowest interest earning account to the highest interest paying account thereby maximizing your benefit.

 Savings Plus Not just you, but your family's accounts can be 'linked-in'!! So, we allow you 'Family-Link' impact!!

 Flexibility Plus This feature allows for one consolidated balance to be shown at a profile level, be it ATMs or Phone Banking or Online Banking – so for all those accounts which are linked-in under one Profile, they all become Common Accounts! You can however access your funds like before as all your linked accounts continue to operate independently.

 Convenience Plus To super-enhance your savings, you should look at transferring your other bank current / savings accounts as any money you decide to link in is always used to offset your home loan interest paid. Consolidate banking relationships with Standard Chartered Bank - Open accounts here and maximize benefit under one roof. Interest paid on the Home loan

As per Sec 24(b) of the Income Tax Act, 1961 a deduction up to Rs. 150,000/- towards the total interest payable on the home loan towards purchase / construction of house property can be claimed while computing the income from house property. (The deduction amount is Rs 30,000/- in case of loans taken prior to March 1, 1999). The interest payable for the pre-acquisition or pre-construction period would be deductible in five equal annual installments commencing from the year in which the house has been acquired or constructed. In case of self occupied property, this deduction is allowed only for one such self - occupied property. The interest towards home loan taken for purchase, construction, repairs, renewal or reconstruction of house property is eligible for deduction under section 24(b).

Principal repayment of the home loan

As per Section 80C read with section 80CCE of the Income Tax Act, 1961 the principal repayment up to Rs. 100,000 on your home loan will be allowed as a deduction from the gross total income subject to fulfillment of prescribed conditions.

Interest paid on the home loan A home loan with Standard Chartered Bank lets you do more than just buy a home. We have a product that is specially suited to the needs of our home loan customers – top up loan. A top up loan is a facility given to our existing home loan customers over and above their existing loan. So, if you have taken a home loan from us, and are now in need of additional funding, a top up loan is the answer for you. You may need money to buy a swanky new home theatre system, to renovate your home, or to finance your child‘s education. A top up on your home loan allows you to meet these or any other needs you may have, and that too, at attractive interest rates.

Features  A home loan customer who has been repaying for more than 6 months is eligible to apply for a top up.  You can get a top up, up to 100% of the original loan amount disbursed.  The tenure for the top up can be up to the outstanding tenure on your existing home loan.

Advantages  Lower Costs – Compared to other alternatives like personal loans, a top up loan gives you a better deal when it comes to interest rates as well as processing fees. So you can leverage on your existing home loan to help you save costs.  Convenient Repayment – A top up loan allows you to repay over a longer tenure compared to a personal loan, helping you to keep your monthly outflow low.

You also have the option of transferring your existing loan to Standard Chartered Bank and availing a top up loan along with the transfer.

PAYMENT SERVICES

The Standard Chartered bank can help you save time and money by reducing processing costs while providing a value-added service to your suppliers.

Comprehensive payments solution

Standard Chartered‘s payment solutions can help to reduce your overall processing costs – for domestic and global payments – saving you time and money while providing a value-added service to your suppliers. Our comprehensive payment services will be tailored to enhance your accounts payable process. This will eliminate many manual tasks involved in making payments, allowing you and your staff to spend more time focusing on your core business needs. The bank understand that most of your effort in the payment cycle is directed towards initiation; difficulties in the subsequent reconciliation process can jeopardise the whole process. With Straight2Bank Channels you can now track the exact status of each payment through timely reports that can be uploaded seamlessly into your company‘s system.

We offer a full range of payment capabilities including:

 Cross-border payments o Telegraphic transfers o International bank cheques / drafts

 Domestic payments o Local bank cheques / drafts / Cashiers order o Corporate cheque o Direct credits – ACH / GIRO / credit vouchers o Local bank transfers (RTGS) o Book transfers (account transfer between Standard Chartered branches)

Payments system integration

Straight2Bank channels caters to different levels of customer payment sophistication, including simple online transaction via Internet, bulk file payment via internet or lease line, and the ability to send industry standard messages directly to the bank. Our in- country specialists are available to help customise a solution that enables you to manage your working capital in a more efficient manner.

STANDARD CHARTERED MARATHON

Standard Chartered Bangkok Marathon on 23 November’ 2008 offers additional prizes for Thai runners and lines up activities to promote its “Cool Marathon” concept.

Bangkok – August 20, 2008 – The Ministry of Tourism and Sports, in association with Bangkok Metropolitan Administration (BMA), National Jogging Association of Thailand (NJAT), and Standard Chartered Bank (Thai) Pcl. joined hands to make this year‘s Standard Chartered Bangkok Marathon not only attract more Thai and international runners, but also raise social awareness on climate change.

At a press conference held today at the Centara Hotel, the organizing committee announced that the race day has been set on Sunday November 23 with highlight on ―Cool Marathon‖, a campaign against climate change, featuring promotional activities in four regions around Thailand.

NJAT chairman General Manus Klaimanee acting as spokesperson of the organizing committee said that for 21 consecutive years, the race has succeeded in retaining its glory and internationally recognized standard. With active support from the government sectors including the Ministry of Tourism and Sports and BMA, it is likely to draw greater attention from international runners and tourists to Thailand, generating tourism revenues and strengthening the position of Bangkok as an ideal location for international sports events.

―The first Bangkok Marathon held 20 years ago welcomed just about 1000 runners. The number of runners however has been increasing every year, and last year the race was successfully blessed by over 50,000 runners, with approximately 300 runners from abroad. For this year‘s event, again, we expect much more entries from local and international runners,‖ he added. ―The Ministry of Tourism and Sports is of great help to publicize the race among international runners and communities. Meanwhile BMA has played an important role in getting the city prepared for the race, of which the route runs through splendid views of Bangkok‘s most beautiful historical, cultural and architectural attractions within the Rattanakosin Island.‖

To encourage more Thai runners, General Manus said, ―This year‘s event will award Thai runners with 15 more cash prizes; ten for male racers and five for female. Besides, to encourage more people running, the organizing committee will bring Marathon Clinic to road-show in four regions around the country including Chiang Mai, Rayong, Surin and Phuket where jogging and marathon clubs in the provinces will play an active role to help promote running as a way towards healthy living.‖

Mr. Mark Devadason, President and Chief Executive Officer of Standard Chartered Bank (Thai), said: ―The bank, which is now in its third year as title sponsor, has contributed not only the financial support but always promote social awareness element into the race. Last year, with great success we paired up 80 blind runners with bank staff volunteers to run in celebration of HM the King‘s 80th birthday anniversary.

―This year, we would like to see wider community participation in running not only as a way towards healthy but also green living. For this reason, we have derived to ―Cool Marathon‖ concept with the aim to encourage people to running as an exercise for their better health and help with charity at the same time. We will be organizing activities with local communities in four regions where the Marathon Clinic road-shows will take place and raise awareness on climate change and how individual behavior can make a difference, ‖ said Mr. Devadason.

Part of the proceeds from this year‘s Standard Chartered Bangkok Marathon will go towards Chaipattana Foundation under the patronage of His Majesty the King.

ATM SERVICES

Enjoy fast and convenient banking round-the-clock The facility of ATM card, you can bank 24 hours a day - 365 days a year. Enjoy a host of banking services including cash withdrawals, funds transfer, balance enquiries, statement & cheque book requests, PIN changing facility and more.

Useful services offered just for you:  Withdraw cash 24 hours a day 7 days a week.  Pay credit card bills  Pay utility bills  Buy prepaid mobile vouchers  Get a 'mini-statement' of your account whenever required.  Request for a cheque book  Request statement of account. This will be generated and mailed to you

 Funds Transfer: Transfer funds from one account to another account within Standard Chartered Transfer funds from one account to another account ( Inter Bank Funds Transfer ) in any other participating member bank  To ensure safety, our ATM allows you to change your PIN whenever needed.

Credit Card bill payment 1. Select bill payment. 2. Select credit card payment. 3. Select your credit card. If no card is tagged to your account then select ‗ENTER CREDIT CARD NUMBER‘. 4. If no card is tagged to your account then enter credit card number. 5. Select you card type. 6. Enter the amount you wish to pay. 7. You will see the processing screen. 8. Confirm the details. 9. You will again see the processing screen. 10. On successful transaction, you will see the payment accepted screen.

Transfer funds Inter Bank Fund Transfer (IBFT) facility is available on Standard Chartered ATMs which allows you to transfer funds from your Standard Chartered Bank savings or current account to an account in any other Participating Bank The maximum transfer limit per day is PKR 250,000* and the funds will be transfered instantly upon confirmation of a successful transaction. This service comes to you absolutely free of charge.

The Banks participating in Inter Bank Fund Transfer (IBFT) are:  Allied Bank Limited  NIB Bank  RBS  United Bank Limited

Utility bill payment Now you can pay your Utility and Mobile bills 24x7 through any of Standard Chartered‘s 200+ ATMs. Just visit your nearest SCB ATM, select the bill payments option and pay your utility/mobile bills instantly! This service is free of cost.

Utility Bills Enter the consumer/account number of the utility and your bill will be presented to you. The billed amount will be instantly debited from your account and you will get a receipt as a payment confirmation.

Mobile Bills Enter your mobile number and pay your bill instantly from your bank account, both post-paid and pre-paid customers can use this service.

STANDARD CHARTERED BANK-WORLD LEADER IN WORKPLACE HIV EDUCATION

As HIV directly impacts the lives of employees and partners it impacts business. Standard Chartered Bank has been actively engaged in the AIDS response for almost ten years. ―Living with HIV‖ is the Bank‘s workplace HIV programme, a comprehensive package that delivers HIV education via face-to-face peer education sessions supplemented by an online e-Learning module. Standard Chartered has run ―Living with HIV‖ on a global basis since 2003, and all its employees (currently over 73,000) are required to complete it no matter where they are based, unlike other companies that run HIV programmes on a geographical and prevalence basis.

The peer programme is conducted by a network of employees who volunteer their time to educate and raise awareness about HIV. There are currently more than 800 ―HIV Champions‖ across fifty countries so approximately one per 100 staff members. The objectives of the ―Living with HIV‖ programme include educating staff on prevention to encourage changing risky behaviour; reducing stigma in the workplace and encouraging HIV testing so that those living with the virus can get appropriate support. The Bank supports this with a non-discriminatory Group Policy on HIV and AIDS as part of its company policy on the protection and enhancement of human rights in the workplace and equal opportunity regardless of color, race, gender and ethnicity.

Responding to AIDS makes business sense The origin of Standard Chartered‘s response to AIDS stemmed from Country Managing Directors, particularly in Africa, seeking human resource policy advice on the management of employees living with HIV. As HIV started to impact profitability through the loss of personnel, absenteeism, medical and welfare costs, the Bank realized that the impact of HIV was likely to be significant and that it must take action. Standard Chartered‘s long-term response to HIV began in 1999 when it initiated an AIDS campaign called, ―Staying Alive", which was later rolled out across twelve African countries.

Sharing best practice externally In 2006, Standard Chartered pledged to the Clinton Global Initiative to educate 1 million people about HIV by 2010. The Bank is freely sharing its HIV educational products and techniques with other organizations and the ―HIV Champions‖ will train peer educators within partner companies. As part of this commitment, the bank is working with the Global Business Coalition to identify potential partner organizations that will roll out its HIV education programme, which it has already shared with customers, suppliers, governments and wider communities. UNAIDS, the International Labour Organization and Standard Chartered are working together on an assessment of updated HIV education tools.

Leadership in the private sector AIDS response As an estimated two out of three people living with HIV go to work each day, UNAIDS and its cosponsor ILO, believes the workplace is one of the most effective settings for responding to the epidemic. ―UNAIDS recognizes Standard Chartered Bank as a valuable advocate and true business leader in the AIDS response,‖ said UNAIDS Private Sector Partnerships Chief, Regina Castillo. ―International workplace programmes such as ―Living with HIV‖ are a best practice that show that raising staff awareness of HIV is a win-win investment in the future of both their employees and their business.‖ Standard Chartered‘s AIDS business leadership has been recognized by a number of awards including the Global Business Coalition's 2007 Outstanding Business Action Award for Core Competency. The Bank also supports community investment projects on AIDS and is currently reviewing medical aid packages in Africa in order to improve employee access to HIV treatment. Standard Chartered has a history of over 150 years in banking and an extensive global network of over 1,200 branches in 56 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.

HARD TIMES

Scandal

In 1992, scandal broke when banking regulators charged several employees of Standard Chartered in Mumbai with illegally diverting depositors‘ funds to speculate in the stock market. Fines by Indian regulators and provisions for losses cost the bank almost 350 million pounds, a third of its capital.

Scandal erupted again in 1994, when the Sunday Times of London wrote that executives of Mocatta Group, the bank‘s metals-trading arm, had bribed officials in Malaysia and the Philippines in order to win business. The bank, in a statement on July 18, 1994, said there were ―discrepancies in expense claims‖ that ―included gifts to individuals in certain countries to facilitate business, a practice contrary to bank rules.‖

In 1997, Standard Chartered sold Mocatta to Toronto-based Scotiabank for $26 million.

In 1994, the Hong Kong Securities and Futures Commission found that Standard Chartered‘s Asian investment bank had illegally helped to artificially support the price of new shares they had underwritten for six companies from July 1991 to March 1993. The bank admitted the offense, apologized and reorganized its brokerage units.

The commission banned the bank from underwriting IPOs in Hong Kong for nine months. Standard Chartered‘s Asian investment banking operations never recovered, and in 2000 the bank closed them down. The bank fully recovered in late 90's, during this time, the bank sold off holdings in continental Europe and the Americas, sold the headquarter building (lease back) and branch properties in Hong Kong. In 2000, Standard Chartered acquired Grindlays Bank & Chase Manhattan Bank Hong Kong retail banking business.

Executive Turmoil

The ethics issues and financial losses triggered turmoil in Standard Chartered‘s London executive suite. The bank went through three CEOs in three years: Malcolm Williamson was replaced in 1998 by Rana Talwar, who was in turn unseated by Mervyn Davies in 2001. By the time Davies took over, his predecessors had systematically sold off the bank‘s holdings in continental Europe and the Americas.Former CEO Talwar traces Standard Chartered‘s troubles over the years to its failure to hire local talent. The Indian-born Citigroup Inc. veteran became the bank‘s first non-British CEO when he was appointed in 1998.

Underpinning a Risk-Driven Strategy "The stakes are very high indeed. With our many large and complex interconnections to the outside world, it's vital to carry out effective patch management. Our aim is to achieve the right level of security through implementing an appropriate risk-based strategy. This cannot be achieved without a clear and accurate understanding of what needs patching and ensuring that it remains reliably patched. We use QualysGuard as a dynamic tool to underpin this process." says John Meakin, Group Head of Information Security, Standard Chartered Bank.

"Our aim is to achieve the right level of security on our global networks. This means a clear and accurate understanding of what needs patching and ensuring that it remains reliably patched. We rely upon QualysGuard to underpin this process."

"Being able to report on remediation and response plans has also helped us meet strict financial compliance requirements. QualysGuard reports give me and my security team an instant overview of the overall level of health of security in my organisation."

Standard Chartered's Need for Vulnerability Management

Security monitoring in an environment like Standard Chartered's requires the capability to cover diverse IT platforms - including both Windows and Linux - and many applications and services. Its goal was to consolidate these ad-hoc efforts into one cohesive, global process with clear visibility, follow through and accountability.

Before the introduction of enterprise vulnerability management, Standard Chartered's network topology and system configurations were unknown. Local operating teams performed only occasional scanning with various tools. Spot audits were made through penetration- testing and there was no rigorous methodology to assess exposure and take corrective action.

The bank evaluated four alternatives including tools from Foundscan, ISS, Vigilante and X-Force but eventually, it selected QualysGuard on six clear criteria: scanning accuracy, deployability, scalability, ease-of-use, integration capabilities and overall cost effectiveness.

"It was the only solution which met our demands without compromise, giving us a reliable, centralised method for protecting our critical assets worldwide," says Meakin. "Our experience of rolling out QualysGuard has been remarkably painless. Working with our integration team in both London and Singapore, the service has been consistently high."

The role of Vulnerability Management at Standard Chartered

By introducing vulnerability management, Standard Chartered gained a clear picture of the exposure with common standards worldwide. The company has been able to quickly prioritise remediation; get security and operating teams to work together smoothly and effectively and empowered outsourcing vendors to meet specific security service level agreements.

Many major viruses have the ability to recur and creep insidiously back into the network causing considerable problems; another reason why on-going scanning is important. "Although Standard Chartered Bank was not hit the first time round by SQL Slammer, it did manage to infect our network a number of months later due to difficulties in restoring patched server builds after operational problems. Our IDS engines and QualysGuard enabled the Bank to pinpoint rapidly the source of the problem and close it down, avoiding major infection." said Meakin.

Standard Chartered, like many other global organisations, has had to grapple with the challenge of integrating disparate elements. Qualys's partnership with NetSec, SCB's chosen Managed Service Provider, has integrated vulnerability and asset data into the Finium V event management platform, minimising the integration effort required by Standard Chartered itself.

"Regulatory pressures and increased exposure are driving more complex requirements for managing security risks. With this integration we gain the ability to view and act upon security risk as it pertains to our organisation's assets,» said John Meakin. «In addition, being able to report on remediation and response plans has helped us meet strict financial compliance requirements."

Reports Help to Improve Risk Management and to Address Regulatory Requirements

QualysGuard's easily accessible reports provide a clear audit trail for fixing vulnerabilities. Delivered on a monthly basis to the bank's operational risk committee, they have enabled Standard Chartered to improve its risk management methodology and address regulatory requirements that impact financial institutions.These reports help the security group support the front-line production operations team more effectively to patch and maintain the security of the whole network. They allow centralised management by checking the patch management performance, tracking patching actions to completion and distributing tasks to the relevant geographic support group. They also give John Meakin a real-time snapshot of the bank's security levels.

"Regulatory pressures and increased exposure are driving more complex requirements for managing security risk. Our vulnerability management strategy gains us the ability to view and act upon security risk as it pertains to our organisation's assets" said John Meakin.

"The reports also enable me to justify the investments we need and further define our security strategy. Today, we really can deploy our security manpower much more effectively in both preparing and responding to security incidents." concludes Meakin. PERSONAL BANKING- FEATURES

BIBLIOGRAPHY

The sources of gathering the above information are:

1. Websites www.scb.co.in www.standardchartered.co.in www.ask.com

2. Wikipedia- The Encyclopedia

3. Standard Chartered Bank (Connaught Place Branch)

4. The Business news (Business Magazine) issued in March 2009

5. The India Today (Magazine) April 2010