Foreign banks to gain from subsidiarisation route: Deloitte

Last Updated: Thursday, November 28, 2013, 18:16

The Reserve Bank guidelines for foreign banks to operate through wholly-owned subsidiaries in India is a step in the right direction as they play an important role in economic growth, a study said.

WoS of foreign banks to be exempt from capital gains tax: RBI

Last Updated: Tuesday, November 26, 2013, 19:36

The Reserve Bank on Tuesday said that conversion of existing foreign bank branches into wholly owned subsidiaries in India will neither attract any capital gains tax nor stamp duty.

India should open up banking sector: Expert

Last Updated: Saturday, November 23, 2013, 12:05

Piyush Gupta, Chief Executive of Singapore’s DBS Group Holdings, said India could tap foreign banks to bridge its capital shortfall.

US business body welcomes Indian banking sector reform

Last Updated: Saturday, November 9, 2013, 11:28

The US business body has welcomed the new RBI rules governing access for foreign banks operating in India, describing the move as a positive step and called for opening up of other areas in particular the insurance sector.

Foreign bank rules set stage for more reforms: Fitch

Last Updated: Friday, November 8, 2013, 14:00

The newly introduced framework is broadly based on the two core principles of reciprocity and single mode of presence.

RBI permits foreign banks' subsidiary to acquire pvt banks

Last Updated: Wednesday, November 6, 2013, 21:08

The Reserve Bank of India Wednesday permitted wholly-owned subsidiary (WOS) of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country.

RBI rules out offering foreign banks regulatory arbitrage

Last Updated: Tuesday, October 29, 2013, 21:35

The Reserve Bank on Tuesday ruled out offering any regulatory arbitrage to foreign banks which are ready to get locally incorporated.

RBI to come out with guidelines on foreign banks soon

Last Updated: Tuesday, October 29, 2013, 14:47

The Reserve Bank will soon come out with comprehensive guidelines on foreign banks to encourage them to convert into wholly owned subsidiaries (WOSs) and enjoy near-national treatment.

Foreign banks to give loans for dollar deposits

Last Updated: Tuesday, September 17, 2013, 09:41

Foreign banks are pushing to raise billions of dollars from expatriate Indians in response to New Delhi's drive to defend its weak currency, which could mean the government can avoid the need for a sovereign bond or state-backed deposit scheme to attract inflows.

Foreign banks to provide upfront loans for NRIs

Last Updated: Monday, September 16, 2013, 15:50

Foreign banks will provide upfront financing for wealthy non-resident Indian clients to entice them to place bulky dollar deposits back home in response to India's drive for dollar funding to defend its weak currency, sources told Reuters.

Poor can also open zero balance account in foreign banks: RBI

Last Updated: Wednesday, September 11, 2013, 20:43

People belonging to weaker sections in the country can also open zero balance accounts in foreign banks such as HSBC, Citibank and Standard Chartered Bank and avail free ATM-cum-debit card facility.

Mayaram meets treasury heads of foreign banks on rupee

Last Updated: Saturday, August 31, 2013, 18:55

Economic Affairs Secretary Arvind Mayaram on Saturday discussed the continuing rupee fall and the resultant macro-economic impact with the treasury heads of leading foreign banks.