Among the foreign banks with a major presence in India - as adjudged on the basis of their employee strength - only Standard Chartered Bank bucked the trend.
The Reserve Bank of India scanner on banks with exposures to exotic derivatives has now turned to several high-profile foreign banks. RBI has called for data from most of the foreign banks active in structured product markets since most of the exotic products have originated from these foreign banks.
Local banks no match for foreign peers in global reach and better services.
Finance Ministry issues strict instructions on foreign bank accounts.
"It has been decided that for all foreign banks operating in India, the CEO would be responsible for effective oversight of regulatory and statutory compliance as also the audit process and the compliance thereof in respect of all operations in India," the RBI said in a notification.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Compared to other emerging markets, accelerated growth in the domestic economy provided greater business opportunities to foreign banks in India, resulting in higher profitability.
After delaying liberalisation for foreign banks by over a year due to global financial meltdown, the Reserve Bank on Tuesday decided to review its position by September this year in the wake of improving conditions worldwide.
Deutsche Bank could be the next to trim its retail operations.
The Reserve Bank on Wednesday permitted wholly-owned subsidiary (WOS) of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country.
The bad assets or gross NPAs of commercial banks fell to a 12-year low of 2.8 per cent in March 2024 and may go down further to 2.5 per cent by the end of the current fiscal, said the RBI's Financial Stability Report (FSR) released on Thursday. Scheduled Commercial Banks' (SCBs) gross non-performing assets (GNPA) ratio fell to 2.8 per cent, and the net non-performing assets (NNPA) ratio to 0.6 per cent at the end of March 2024. "The asset quality of SCBs recorded sustained improvement, and their GNPA ratio moderated to a 12-year low in March 2024. Their NNPA ratio too improved to a record low," said the June FSR.
Withdrawals from basic savings bank deposit accounts are capped at four a month, including withdrawals via ATMs.
Overseas markets are already hit by an acute dollar crunch, which is why major central banks, the US Federal Reserve, the European Central Bank and the Bank of England, had to infuse funds into the market. These lines of credit are over and above the stand-by credit, which is usually maintained by foreign banks with the Indian banks.
Foreign banks operating in India want the Reserve Bank of India to prepare a vision document on policy changes they can expect after March 2009.
With one of its members, Pradip Burman, being named as an account holder in a foreign bank in the black money issue, Dabur India promoter family, Burmans on Monday said the account complied with all legal requirements.
Currently, foreign lenders are present in India only through branches or representative offices.
Foreign Banks operating in India have outpaced domestic banks, both private and PSUs, in reducing the level of non-performing assets, a study has revealed.
The new regulations leave registration capital requirements for wholly foreign-owned banks unchanged
Foreign banks operating in India have no branches in rural areas, the Lok Sabha was informed on Friday. However, private sector banks were operating in rural areas through 1109 offices, Finance Minister P Chidambaram said.
The brothers say that the accounts were opened when they were NRIs and were legally allowed to do so.
If the account in a foreign bank has income undisclosed to income tax authorities, or has funds from illegal sources, the account can be declared illegal, under the Fema.
Was told that account will be closed if it did not stop providing insurance cover to ships ferrying oil from Iran.
The RBI is working to nudge large foreign banks with 30 or more branches in India to get incorporated locally.
In the absence of clear incentives for subsidiaries, foreign banks logically prefer the branch mode; but now, those who see India as a long-term growth opportunity have the basis for deciding between the two modes.
Foreign banks say they have been caught in a "conflict" situation with respect to the manner in which the Reserve Bank of India (RBI) conducts inspections at their branches.
Bankers have read the Reserve Bank of India's (RBI) comments on foreign banks' market share in India as an indication that the promised review of policies on the presence of overseas banks in 2009 is unlikely to yield any greater leeway within which they can operate.
The Reserve Bank is processing applications of 18 foreign banks, which have shown interest in setting up branches and representative offices in the country, Parliament was informed on Tuesday.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances