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India eases rules for Foreign Banks

7 November 2013 Last updated at 00:25 ET –

Source- http://www.bbc.co.uk/news/business-24846760

India’s central bank has been looking to take measures to open up the banking sector

India’s central bank has unveiled new rules that will allow foreign banks to expand their presence in the country.

Foreign banks will now be allowed to set up “wholly owned subsidiaries” in India, which will enable them to open branches anywhere in the country.

The subsidiaries will need a minimum capital of 5bn rupees ($80m; £50m).

The changes are a part of the push by the central bank’s new governor, Raghuram Rajan, to liberalise the sector as he looks to boost growth.

Foreign banks have long wanted to boost their presence in the country – home to nearly 1.2 billion people.

However so far they have had to face tight regulations, especially over the number of branches they can open.

The Reserve Bank of India said the new rules would allow them to open branches “at par with Indian banks”.

However, they will need permission to open branches in “certain locations that are sensitive from the perspective of national security”.

The RBI said it would also consider introducing takeover rules that would allow foreign companies to own as much as 74% of a domestic bank.

But it said any such decision will be taken after a review relating to “the extent of penetration of foreign investment in Indian banks and functioning of foreign banks”.

AAMC Training Group has established operations in the India market and  its director has over 40 plus years experience in the Banking and Finance Industry plus we have extensive training programmes to assist with the growth and development of  staff in India to meet the requirements of overseas Banks looking to establish that market.  Let AAMC Training Group assist you in the training of potential employees so they are job ready, all you need to do then is introduce them to your cultures and regulatory requirements. It makes your new recruits job ready sooner than the traditional method of recruitment and then training. We build the training programmes to meet your requirements.

Rural Banking models or even in store Banking models are also part of our expertise, so contact myself today on +61418646078 and lets work on getting you up and going faster than the traditional ways.

 


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