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Foreign banks News

02 Aug 2017

Rupee strengthens to two-year high

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

20 May 2016

OVL raises $1.2-bn foreign loans to buy Russia's Vankor stake

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.

11 May 2016

Foreign banks not expanding due to India's riskier rating: Rajan

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.

23 Mar 2016

RBI revises liquidity measuring rules for Basel III

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.

26 Nov 2015

Maximum 4 expats in each Indian branch: RBI to foreign banks

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.

19 Nov 2015

Sonia Gandhi holds 2.5 lakh crores in foreign banks, alleges Subramanian Swamy

11 Oct 2015

Hawala transactions are being done in many nationalised, foreign banks across country, alleges Congress

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

30 Sep 2015

Watch: Afternoon Headlines @ 1:30 pm

03 Sep 2015

Black money: SC asks SIT to give progress report by Oct 7

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.

22 May 2015

IBA to sign wage revision pact with banks unions on Monday

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.

11 May 2015

Late to the party, global banks try to muscle into India's start-up boom

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.

10 Feb 2015

Indian bank's overseas branches grew 36% in 2003-14: RBI

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.

23 Jan 2015

Govt mulling to broaden ambit of Predicate Offences: SIT to SC

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.

20 Jan 2015

More interested in bringing back black money than disclosure of names: SC

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.

31 Dec 2014

RBI modifies reporting norms for rep offices of 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.

11 Dec 2014

RBI asks FinMin to review priority lending norms

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.

09 Nov 2014

'Black money in foreign banks to return in a year'

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.

20 Oct 2014

SBI to carry on in UK despite crackdown on foreign banks

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.

17 Oct 2014

Opening account in foreign bank is not crime: AG

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.

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