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Foreign Banks

A foreign bank is basically a branch of a bank opened in a country having its headquarters in another country with the goal of providing services to the customers across borders. A foreign bank works according to the regulations of both the countries it is operating in i.e the host country and the home country.

With growing GDP, India is attracting a lot of foreign banks giving them a great opportunity to earn profits. There are already a number of leading foreign banks operating in India. Following is a list of some big names of world banking operative in India:-

J.B. Morgan Chase & Company
Bank Of America
City Group
Wells Fargo
Bank Of Newyork Mellon Corporation
HSBC

Foreign banks have indeed been helpful to the banking industry in India by providing new banking innovations and primitive instruments for banking. It has also lead to an increase in efficiency of local Indian banks due to competition.

The presence of foreign banks in India is beneficial with the fact that it is giving a boost to local banks and is providing a greater access to international markets.