RBI wants foreign banks to offer commercial services
RBI deputy wants to boost penetration of banking activities
The Reserve Bank of India (RBI) wants foreign banks to expand their services beyond niche markets and into commercial banking in the country.
"On account of the typical requirements of the economy, it is our desire and expectation that the foreign banks offer commercial banking with a view to ensure further penetration of banking activities," said R Gandhi, a deputy governor at the RBI, in a speech at the Asifma Annual Conference in Singapore last week.
Foreign banks in India "have often sought
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