Barclays launches retail banking in India

Mumbai, May17 (UNI) Barclays PLC, a major global financial service provider, today announced the launch of retail banking services in India with new range of credit crads, personal loans, business instalment loans and investment services products.

The bank has a considerable presence in UK and aims to be among the India's fastest growing banks within next three years. The bank is launching its retail services in Mumbai, Kanchipuram and Nelamangala in first phase of expansion in India. The retail network of the bank will be supported by direct sales agents.

After the launch, Samir Bhatia, Managing director, Barclays India said '' India has a high potential and fast growing retail financial sector with retail banking set to grow by rate of 30 per cent a year , making it an exciting market for us.'' As a part of the Barclays Bank Group, sponsors of the Barclays Premier League- Barclaycard is offering a card dedicated to India's football fans. The card holder will have the opportunity to watch their favourite team in action at the premier league.

'' Barclays will differentiate itself in the product through a compelling product offering, added Bhatia.

Barclays has been operating in India since late seventies, more recently through its investment banking division, Barclays capital.

UNI