Financial Daily from THE HINDU group of publications
Monday, Jan 10, 2005
Financial Daily from THE HINDU group of publications Monday, Jan 10, 2005 |
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Money & Banking
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Foreign Banks Industry & Economy - Natural Calamities StanChart gesture Our Bureau
MUMBAI: Standard Chartered Plc has committed $5 million (around Rs 22 crore) to relief and reconstruction activities in countries affected by recent tsunami. The bank will channel its contributions through local relief funds in Indonesia, Sri Lanka, Thailand, India and Malaysia, said a press release. According to Mr Mervyn Davies, group chief executive, Standard Chartered, the $5 million was an initial contribution to the disaster and the bank has established a task force to co-ordinate its response to longer-term reconstruction.
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