Standard Chartered Bank is looking for appropriate acquisitions, including asset portfolio to grow its business presence in India, one of the fastest growing markets in the world.

"The bank looks at opportunity (for mergers and acquisitions) as they come since we want to be a long term lead player in the growing Indian market," Stanchart Bank's

(India region) chief executive A Christopher Low told reporters in Mumbai on Thursday.

The bank revisits options, whether to take a big step forward or go step by step, for expanding business in India, Low said, adding acquisitions as a strategy for inorganic growth included purchase of asset portfolio as well.

Michael Rees, chief executive (wholesale banking), said India was one of the biggest growth market for us where the bank wants to be an important player.

On the trend towards consolidation of banking in India, he said the sector in Asian countries including Singapore have seen restructuring and it would play out in

India also.

Standard Chartered bank on Thursday concluded first real time gross settlement transaction of Rs 10 crore (Rs 100 million) with State Bank of India for Hindustan Lever Ltd.