Foreign banks in India–global entrants in Indian banking

foreign banks in India

Foreign banks in India –global entrants in Indian banking sector

Nine years back, RBI issued the guidelines for the opening of foreign banks in India. Since then these multinational commercial banks have been operating in our country through wholly owned subsidiaries. These wholly owned subsidiaries got the liberty to open their branches anywhere in India.

Some of the most significant global Banks are running their branches in this country. Till date, 45 foreign banks are operating their branches in India & comes under one of the types of Banks in India.

Some peculiar traits of foreign banks in India

  1. These banks are operated under the Banking Regulation Act, 1949 and the banking regulations of their own country.
  2. Just like the other public and private sector banks in India, RBI is the sole monitoring authority to keep a watch on the banking activities of foreign banks in India.
  3. 5 to 7 % of total deposits and advances portfolio in this country is managed by the foreign banks in India.

 

The superiority of foreign banks over their Indian counterparts 

  • These banks follow the latest banking technologies in the world leaving Indian banks far behind.
  • Provide world class customer service to their account holders with specialized merchant banking services.
  • Most of these banks are strong multinational heavyweights, so they are always ready with surplus capital accumulated from other countries.

Foreign Banks with branches in India

List of banks incorporated outside India and operating branches in India: 

Bank Country Source

List of Foreign Banks in India

Australian BanksAustralia and New Zealand Banking Group
National Australia Bank
Westpac Banking Corporation
Bahraini BanksBank of Bahrain and Kuwait
Bangladeshi banksAB Bank
Sonali Bank
Belgian BankAntwerp Diamond Bank
Canadian BankBank of Nova Scotia
Chinese BankIndustrial & Commercial Bank of China
French BanksBNP Paribas
Credit Agricole
Societe Generale
German BanksDeutsche Bank
Indonesian BankBank Internasional Indonesia
Japanese BanksMizuho Corporate Bank
Sumitomo Mitsui Banking
Bank of Tokyo-Mitsubishi
Mauritian BankState Bank of Mauritius
Dutch BankRabobank
Qatari BankDoha Bank
Qatar National Bank
Russian BanksSberbank
VTB
Singaporean BanksDBS Bank
United Overseas Bank
South African BankFirstRand Bank
South Korean BanksShinhan Bank
Woori Bank
Sri Lankan BankBank of Ceylon
Swiss BanksCredit Suisse
UBS AG
Taiwanese BankChinatrust Commercial Bank
Thai BankKrung Thai Bank
UAE BanksAbu Dhabi Commercial Bank
Mashreq Bank
UK BanksHSBC (as HSBC Bank India)
Barclays Bank
Standard Chartered Bank
US BanksBank of America
Citibank
J.P. Morgan Chase Bank
Goldman Sachs