Indian Banks having Branches Abroad
March 15, 2013‐ New Delhi, India
As on 28.02.2013, 10 Nationalised Banks have 100 branches in overseas jurisdiction.
The banks open their offices / branches in overseas jurisdiction for various business and strategic considerations including to tap overseas market potential, to provide better customer services to their overseas trade clients, to integrate with international financial markets, to mitigate risk in forex, to improve their bottom-line, etc. However decision to expand in overseas jurisdictions are taken by the Boards of the Banks. The Reserve Bank of India (RBI) and Government facilitate overseas expansion of Indian banks by granting expeditious approval; removal of difficulties in opening of offices / branches and in their operations in overseas jurisdictions; etc., on the merit of each case.
This was stated by Minister of State for Finance, Shri Namo Narain Meena, in written reply to a question in the Lok Sabha today.
(Release ID :93769)
Press Release Source: PIB
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