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 Banks Australia and New Zealand Banking Group
National Australia Bank
Westpac Banking Corporation
Bahraini Banks Bank of Bahrain and Kuwait
Bangladeshi banks AB Bank
Sonali Bank
Belgian Bank Antwerp Diamond Bank
Canadian Bank Bank of Nova Scotia
Chinese Bank Industrial & Commercial Bank of China
French Banks BNP Paribas
Credit Agricole
Societe Generale
German Banks Deutsche Bank
Indonesian Bank Bank Internasional Indonesia
Japanese Banks Mizuho Corporate Bank
Sumitomo Mitsui Banking
Bank of Tokyo-Mitsubishi
Mauritian Bank State Bank of Mauritius
Dutch Bank Rabobank
Qatari Bank Doha Bank
Qatar National Bank
Russian Banks Sberbank
VTB
Singaporean Banks DBS Bank
United Overseas Bank
South African Bank FirstRand Bank
South Korean Banks Shinhan Bank
Woori Bank
Sri Lankan Bank Bank of Ceylon
Swiss Banks Credit Suisse
UBS AG
Taiwanese Bank Chinatrust Commercial Bank
Thai Bank Krung Thai Bank
UAE Banks Abu Dhabi Commercial Bank
Mashreq Bank
UK Banks HSBC (as HSBC Bank India)
Barclays Bank
Standard Chartered Bank
US Banks Bank of America
Citibank
J.P. Morgan Chase Bank
Goldman Sachs