TaxTMI 
TaxTMI 
FOREIGN BANKS OPERATING IN THE COUNTRY
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....OREIGN BANKS OPERATING IN THE COUNTRY <br>News and Press Release<br>Dated:- 4-12-2007<br><BR>Rajya Sabha At present, 29 foreign banks have their branch operations in India. Five foreign banks have ex....
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....pressed their desire to open their maiden branch presence in India. Foreign banks operating in India are required to lend to the priority sector to the extent of 32% of their Adjusted Net Bank Credi....
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....t (ANBC) or credit equivalent amount of Off-Balance Sheet Exposure, whichever is higher, which also includes 10% lending for small enterprises and 12% for export credit. However, no target has been st....
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....ipulated for foreign banks for providing loans to farmers and scheduled-castes and scheduled-tribes. Though no stipulation has been made for foreign banks to open their branches in rural areas, as per....
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.... the Branch Authorisation Policy issued by RBI, banks are encouraged to open branches in rural and under-banked areas. Further, while considering applications for opening branches, RBI gives weightage....
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.... to the nature and scope of banking facilities provided by banks to common persons, particularly in rural and under-banked areas. This information was given by Shri Pawan Kumar Bansal, Minister of S....
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....tate for Finance in reply to a question raised by Shri Motilal Vora and Shri Satyavrat Chaturvedi in the Rajya Sabha today.<BR> News - Press release - PIB....