FOREIGN BANKS IN INDIA
FOREIGN BANKS IN INDIA
The Banking scenario in India has considerably changed if the last decade is considered. The width and depth of financial system in India has improved. The new technology has also added to the improvement and has made banking transactions just a click away. Foreign Banks in India have brought an explaination of the services offered to the customers. They are not a new phenomenon in our nation as Standard Chartered Bank and Citi Bank started its operation in India way back in the nineteenth and early twenteeth century.
Foreign Banks have brought in India new banking practices and latest technology in India. They have in turn helped the domestic banks to improve their performance and offer better services. They have captured a large customer base due to their efficient services. They have changed the way public sector banks in India work. They have considerably improved the foreign exchange market. Reserve Bank of India’s recent initiatives have encouraged many international banks to open their operations in India.
Here is a list of the Foreign Banks in India :
- ABN-AMRO Bank
- Abu Dhabi Commercial Bank
- Bank of Ceylon
- BNP Paribas Bank
- Citi Bank
- China Trust Commercial Bank
- Deutsche Bank
- HSBC
- JPMorgan Chase Bank
- Standard Chartered Bank
- Scotia Bank
- Taib Bank
Some of the prominent banks that are going to open operations in India are :
- Royal Bank of Scotland
- Switzerland’s UBS
- US-Based GE Capital
- Credit Suisse Group
- Industrial and Commercial Bank of China
- Merrill Lynch
- Goldman Sachs