Foreign banks have brought latest technology and
latest banking practices in India. They have helped made Indian Banking
system more competitive and efficient. Government has come up with a
road map for expansion of foreign banks in India.
The road map has two phases. During the first phase between March 2005
and March 2009, foreign banks may establish a presence by way of setting
up a wholly owned subsidiary (WOS) or conversion of existing branches
into a WOS. The second phase will commence in April 2009 after a review
of the experience gained after due consultation with all the stake
holders in the banking sector. The review would examine issues
concerning extension of national treatment to WOS, dilution of stake and
permitting mergers/acquisitions of any private sector banks in India by
a foreign bank.
Major foreign banks in India are:
ABN-AMRO
Bank
The history of ABN Amro Bank dates back to the year 1924, when King
Williem – I issued a Royal Decree declaring the establishment of
the Nederlandsche Handel-Maatschappij (Netherlands Trading Society,
NTS).
Abu
Dhabi Commercial Bank Ltd.
Abu Dhabi Commercial Bank (ADCB) is one of the most prominent
nationalized banks of the United Arab Emirates (UAE).
American
Express Bank Ltd
With its headquarters located in New York, U.S., American Express
company is a global financial services provider, also known as “AmEx”
in short.
BNP Paribas
BNP Paribas is one of the oldest banks in the continent of Europe, and
the largest bank in the Eurozone (consortium of countries having adopted
Euro as their primary currency)
Citibank
Citibank is one of the largest banks in the U.S., and is a part of the
financial services company Citigroup.
DBS Bank Ltd
DBS Bank is a Singapore-based bank, and is known to be one of the
largest banks to exist in South East Asian region by asset value.
Deutsche
Bank
Deutsche Bank was founded in 1870 in Berlin to facilitate trade
relations between Germany, other European countries and overseas
markets.
HSBC Ltd
HSBC Bank is a subsidiary of HSBC Holdings plc, a London based banking
giant which, according to the Forbes magazine
Standard
Chartered Bank
Standard Chartered Bank is a London based bank, currently operational
within over 70 nations with more than 1,700 branches and 73,000 strong
workforce as of April 2009.
Barclays
Bank
Barclays GRCB India is led by Samir Bhatia as its Managing Director. In
a short period of just two and a half years
