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Banking

May 19, 2008

Europe's largest bank to tap rising Indian incomes

“Good revenue can be generated by tapping affluent Indians locally and overseas,'' said Acharya. "Just about 4 percent of India's savings goes into equities.”

HSBC Holdings Plc plans to buy 73.2 percent of IL&FS Investsmart Ltd, an Indian brokerage, for 10.03 billion rupees to tap rising incomes in the world's fastest growing major economy after China. via Shanghai Daily

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