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        Case ID :
        Income Tax

        Branch Expansion of Foreign Banks in India.

        September 2, 2011

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        Press Information Bureau
        Government of India
        Ministry of Finance

        02-September-2011 18:22 IST

        Branch Expansion of Foreign Banks in India

                   

                    As on  29.8.2011, 38 foreign banks  are functioning with 321 branches in India.  Reserve Bank of India has given following  approvals for opening maiden branch/branch expansion in India during 2010 and 2100:-

         

        Branch/Branch expansion in India during 2010 and 2011:-

         

        Sl. No.

        Name of the Bank

        Approvals given in 2010

        Approvals given in 2011

        1

        DBS Bank

        2

        -

        2.

        Shinhan Bank

        1

        -

        3.

        Barclays Bank

        2

        -

        4.

        ANZ Bank Australia

        1

        -

        5.

        Credit Suisse AG, Switzerland

        1

        -

        6.

        National Australia Bank

        1

        -

        7.

        Industrial and Commercial Bank of China Ltd.

        -

        1

        8.

        Rabobank International

        -

        1

        9.

        Woori Bank

        -

        1

         

        This information was given by the Minister of State for Finance, Shri   Namo Narain Meena in written reply to an Unstarred Question in Lok  Sabha today.

        DSM/SS/PM

        Branch expansion approvals: Reserve Bank authorisations increased foreign bank branch presence following ministerial disclosure to Parliament. The Reserve Bank of India granted approvals for maiden branches and branch expansions in 2010 and 2011, and as of the reference date thirty-eight foreign banks operated in India with 321 branches; the approvals list identifies specific international banks authorised in each year and was disclosed by the Minister of State for Finance in reply to an Unstarred Question in the Lok Sabha.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Branch expansion approvals: Reserve Bank authorisations increased foreign bank branch presence following ministerial disclosure to Parliament.

                                The Reserve Bank of India granted approvals for maiden branches and branch expansions in 2010 and 2011, and as of the reference date thirty-eight foreign banks operated in India with 321 branches; the approvals list identifies specific international banks authorised in each year and was disclosed by the Minister of State for Finance in reply to an Unstarred Question in the Lok Sabha.


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