HSBC, ICRA plan BPO units in Kolkata

Hong Kong and Shanghai Ban-king Corporation (HSBC) and leading credit rating
agency ICRA are mulling forays into the Business Process Outsourcing (BPO)
sector. Both companies have showed a keen interest in setting up BPO operations
in Kolkata because of the city’s low costs and still lower attri-tion rates.

While negotiations between HSBC and the West Bengal gov-ernment have gone
some dis-tance, the ICRA management has written to the state IT depa-rtment
inquiring about BPO business possibilities.

"There have been two rou-nds of fruitful discussions with HSBC, but a
formal deal might take some time," informed an IT ministry official.

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Kolkata