Central Banking

RBI tries to persuade foreign banks to put down roots

india-flag-emerging

The Reserve Bank of India (RBI) has unveiled new rules that will allow foreign banks to expand their presence in the country and "participate fully in the development" of its financial sector.

A revamped framework for the establishment of Wholly Owned Subsidiaries (WOS) by non-Indian banks was published on the central bank's website yesterday, and will permit foreign banks to set up an unlimited number of branches "except in certain sensitive areas where the RBI's prior approval [will] be requir

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: