Barclays to take a position greater than $400 million to develop India operations

Barclays Plc will make investments greater than 30 billion rupees ($403.99 million) in its India unit to develop operations, the British lender stated on Thursday.
With the funding, Barclays Bank PLC India’s complete invested capital in Asia’s third-largest financial system will enhance to greater than 83 billion rupees.
Barclays stated the funding would assist develop its company and funding banking, and personal purchasers companies within the nation.
“As economic activity gathers momentum, there is increased demand for capital from clients,” stated Jaideep Khanna, head of Barclays, Asia Pacific and Country CEO, India.
Barclays Bank PLC had inaugurated its International Banking Unit department at GIFT City within the western state of Gujarat in February.
($1 = 74.2600 Indian rupees)