New Delhi, Nov. 25: The UK-based Hongkong and Shanghai Banking Corporation Limited (HSBC) is keen to enter the Indian pension sector and is awaiting RBI approval to set up a non-banking financial company (NBFC) in the country.

“Our revenues are likely to grow with faster economic growth. We are willing to invest more in India,” HSBC plc group chairman John Bond said on the sidelines of the group’s board meeting here today. The banking behemoth has already invested around $150 million during the current year.

The group is also expecting the Indian economy to maintain a robust growth rate in the near future.

“The Indian economy is growing by 7 per cent. Our judgement is that any change in growth will be on the upside,” Bond said. The revenues of the bank from its India operations have grown by 20 per cent last fiscal.

CEO Niall S. Booker said a number of applications are pending with the RBI, including those of other foreign and Indian banks. “I think they are reviewing the guidelines,” he added. Bond said India continues to play an important role in the global operations of HSBC even though the country contributes only 1 per cent to its global revenue.