Citibank and Standard Chartered Bank (SCB) have become shareholders of SWIFT India Domestic Services Private Limited.
Through shared resources and capital, SWIFT India enables harmonised exchange of structured financial information between domestic participants in the domestic Indian community. SWIFT India opened for a second capital call that was oversubscribed, with Citibank and Standard Chartered Bank showing keenness to be a part of the initiative.
SWIFT, however, did not reveal the extend of investment by Citibank and Standard Chartered Bank in the Indian joint venture. There was also no mention of their shareholdings as well.
Besides the two new entrants, the list of shareholders of SWIFT India includes Axis Bank Ltd., Bank of Baroda, Bank of India, Canara Bank, HDFC Bank Ltd., ICICI Bank Ltd., Punjab National Bank, State Bank of India, SWIFT SCRL and Union Bank of India.
The shareholders of SWIFT India bring the insights and knowledge of domestic customers and users of the services of SWIFT India. They represent their own institutions and the interests of the broader Indian financial community, which includes domestic banks, market infrastructures and their respective customers