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Home » Reserve Bank of India » Foreign Banks in India | ||||||||||||
Foreign Banks in India |
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Foreign banks have brought latest technology and latest banking practices in India. They have helped made Indian Banking system more competitive and efficient. Government has come up with a road map for expansion of foreign banks in India. The road map has two phases. During the first phase between March 2005 and March 2009, foreign banks may establish a presence by way of setting up a wholly owned subsidiary (WOS) or conversion of existing branches into a WOS. The second phase commenced on April 2009 after a review of the experience
gained after due consultation with all the stake holders in the banking
sector. The review has examined issues concerning extension of national
treatment to WOS, dilution of stake and permitting mergers/acquisitions of
any private sector banks in India by a foreign bank. |
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