GE Money, the US-based GE group's financial services arm, is still weighing the route it will take for launching full-fledged banking operations in India.
The company needs to take a view on issues like taxation, branch licensing norms and requirement of lending to specific sectors, said Vishal Pandit, president & CEO of India region at GE Money.
"GE Money is still evaluating its options in India as there are issues about taxation. If the branches or the subsidiary of one of our 23 banking units in various parts of the world has to pay taxes in India and also in its home country, then there will be double taxation," he said.
"The other issue is will our banking subsidiary like to lend to SMEs in India. The other route of acquiring a weak bank in India is also open," he added.
GE Money India has 1.6 billion in assets and it recently also entered into home finance through a subsidiary, GE Money Home Finance.
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