FOREIGN BANKS IN INDIA
DOI:
https://doi.org/10.53555/eijhss.v2i3.19Keywords:
Banking reforms, Foreign BanksAbstract
Narasimham Committee in 1991 and the licensing of the new private sector banks through the next two decades inaugurated an era of change. Meanwhile, the opening-up of the economy to increased participation by foreign players created greater opportunities for foreign banks to work with their multinational clients in India. In the more recent past, foreign banks have followed Indian corporate entities in their outbound expansions. The survival of the banking system in India through the financial crisis has demonstrated its strengths and most foreign banks present in India believe that India is a market with undeniable potential.
After the setting up of Foreign Banks in India, the banking sector has become competitive and customer friendly. In that, four foreign banks have set up shop in the recent past. At present, there are 43 foreign banks operating in India with a network of 334 branches.
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