Foreign banks News

The report also points out that with the recent surge in the gold loan portfolio, coupled with rising gold prices and increased volatility, regulatory intervention due to fears of breaching loan-to-value (LTV) limits is natural.  

The gain in the partially convertible currency was magnified as the Reserve Bank of India refrained from its usual intervention, traders added.

ONGC Videsh Ltd has taken a bridge loan of USD 1.2 billion from a group of foreign banks at a highly competitive rate of about 1.3 per cent to fund its acquisition of 15 per cent stake in Russia's second biggest oil field of Vankor.

Foreign banks have stopped opening branches in India as they need to set aside a lot more capital due to the country's "higher risk" credit rating and they feel it is "not worth" doing so, Reserve Bank Governor Raghuram Rajan has said.

The Reserve Bank has revised certain rules on measuring liquidity for Basel III norms, providing exemption to branches of foreign banks from submitting statement with regard to foreign currency.  

A foreign bank can deploy a maximum of four expatriates for each branch opened in India and not more than six expatriates for their Head Office functions, the Reserve Bank (RBI) said Thursday.

The Congress Party on Sunday alleged that many nationalised and foreign banks were also involved in the forex scam.

The Supreme Court on Thursday asked the Special Investigation Team (SIT) on black money to submit the fourth report on the progress of its probe by October 7.

Bank unions will be formally signing the new wage revision agreement with the industry body Indian Banks Association (IBA) on Monday, one of the heads of the unions said today.

Foreign money has been pouring into India`s fast-growing e-commerce sector, with investors ranging from Japan`s Softbank Corp to Singapore`s Temasek Holdings and GIC Private Ltd piling in.

Indian bank's overseas branches saw robust growth overseas of 36.5 percent in 2013-14, while foreign banks in India recovered from the slowdown with a growth of 20.6 percent, RBI data showed today.

Government is mulling to broaden the definition of "Predicate Offences" on the lines of nations like Australia, Cananda and the US to bring the offence of tax evasion under its ambit, the Supreme Court has been informed.

Supreme Court on Tuesday said it was more interested in getting the black money stashed abroad back to the country than the disclosure of names of illegal account holders in foreign banks.

The RBI on Wednesday modified reporting norms for Representative Offices (ROs) of foreign banks in the country and asked them provide details of top clients introduced to the parent bank, among others.

Reserve Bank has asked the Finance Ministry for a review of priority sector lending norms which the foreign banks find difficult to follow under the wholly-owned subsidiary model.

Senior BJP leader Subramanian Swamy on Sunday expressed hope that the black money stashed in foreign banks would return to the country in about one year.

State Bank of India is determined to carry on retail banking operations in the UK despite a recent crackdown by the Bank of England on the operations of foreign-owned banks in the country.

With the Modi government facing the arduous task of fulfilling its promise of getting back black money stashed abroad, Attorney General Mukul Rohatgi on Friday said all amounts deposited in foreign banks by Indian citizens can't be termed as black money and that it is not a crime to open such accounts.