The Reserve Bank of India Deputy Governor V Leeladhar told the RBI will be starting "wholesome review regarding the road map" of foreign banks in the country.
While answering the questions on the sidelines of a function Leeladhar told reporters the first phase of the roadmap of foreign banks will be ending in March next year. He said, "There is a review to be made; wholesome review to be made".
RBI has allowed liberalization in the banking sector in 2005 with an aim to give chance to the domestic banks to reinforce their presence and financial positions through coalition and reform process.
In the first phase of liberalization foreign banks will be allowed to make their presence by setting up a wholly-owned subsidiary (WOS) or conversion of existing branches into a WOS.
Replying to a question, Leeladhar said the growth in loans by Indian banks was 26 per cent year-on-year in the July 2007-June 2008 period. He added credit growth of banks so far (in the current financial year) has been healthy.
Official website: www.rbi.org.in/home.aspx
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment