chief of the ING group, M Kist, is in India from March 7 to March
11. Kist, chairman of the executive board of the ING group, is
here to explore the countrys potential as a base for
information technology and business process outsourcing and other
business opportunities, said a press release.
meet senior government and industry officials in Mumbai, Bangalore
and New Delhi. Kists visit assumes significance in light of INGs
interest in the Bangalore-based Vysya Bank. ING Insurance
International has a 26 per cent interest in Vysyas life
Dutch finance major, which already holds a 20-per cent stake in
sector bank, wants to take a controlling equity holding and had
approached the Reserve Bank of India (RBI) for approval.
Finance Minister Yashwant Sinha reportedly gave the nod for a
higher foreign investment in private banks, there is still some
ambiguity regarding the specific levels of the permissible direct
and portfolio investments.