January 26, 2019

Licensing of Foreign Banks in India and some important foreign banks with their county,

 Important points for foreign banks that they can set up banking operations in India-    

(1) The initial minimum capital for wholly owned subsidiary will be Rs.500 crore.                                     
(2) RBI said that the wholly owned subsidiary will be required to follow Basel-III requirement 9 percent Tier-I capital right from day one. For the first three years, the wholly owned subsidiary will have to maintain Tier-I capital at 10 percent.                      
(3) The new bank should open at least 25 percent of its branches in rural where banks are not established.                                       
(4) The Priority Sector Lending requirement will be 40 percent for wholly owned subsidiarys, such as domestic scheduled commercial banks .                                                   

Important Foreign banks and their Countries- 

(1) BNP Paribas Bank: France.            

(2)DBS Bank : Singapore.   

(3)Deustsche  Bank: Germany.  

(4)Societe Gadnerale Bank : France. 

(5)China Trust Commercial Bank: Taiwan.                                       
(6)ABN AMRO Bank: Netherlands.

 (7) JP Morgan Chase Bank: United State Kingdom.                                 

 (8) Bank of America: United State America.                              

(9)Standard and Chartered Bank: United Kingdom.                  

 (10)Scotia Bank: Canada.     

(11)Royal Bank of Scotland: United Kingdom.                                 

(12)Bank of Ceylon: Sri Lanka. 

(13)Barclays Bank: United Kingdom. 

(14) Citi Bank: United State Kingdom.  
(15)Abu Dhabi Commercial Bank: United Arab Emirate.            

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