Indian And Foreign Banks In India

Foreign Banks In India

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.

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). The NTS had been established with an aim to promote the trade between the Netherlands and the Dutch East Indies.

Abu Dhabi Commercial Bank Ltd.
Abu Dhabi Commercial Bank (ADCB) is one of the most prominent nationalized banks of the United Arab Emirates (UAE). Three different banks viz. the Khalij Commercial Bank, the Emirates Commercial Bank and the Federal Commercial Bank merged in the month of July 1985, leading to the incorporation of the Abu Dhabi Commercial Bank.

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. American Express had been established in the year 1850, and is well known all around the world for its dedicated Credit Card, Traveller’s Cheque and Charge Card services.

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), as reported by The Banker magazine. The bank is present in 87 countries with a 162,700-strong workforce offering its services to the bank.

Citibank
Citibank is one of the largest banks in the U.S., and is a part of the financial services company Citigroup. Citibank had been founded in the year 1812. Initially its name was City Bank of New York, which was later changed to First National City Bank of New York.

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. The government of Singapore established the DBS Bank in the year 1968, and it was primarily aimed at providing development oriented financial services.

Deutsche Bank
Deutsche Bank, headquartered at Frankfurt in Germany, ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management. It is one the world's leading international financial service providers with roughly EURO 2.2 trillion in assets and approximately 80,000 employees.

HSBC Ltd
HSBC Bank is a subsidiary of HSBC Holdings plc, a London based banking giant which, according to the Forbes magazine, is the largest banking group in the world, and the 6th largest company in the world as of April 2009.

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. Although the bank is located in Britain, still a huge chunk of its revenues originate from the continents of Asia, Africa and Middle East.

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, Barclays GRCB India has placed itself amongst the most respected foreign banks in the country that is serving more than 830,000 clients.

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). The NTS had been established with an aim to promote the trade between the Netherlands and the Dutch East Indies.

Abu Dhabi Commercial Bank Ltd.
Abu Dhabi Commercial Bank (ADCB) is one of the most prominent nationalized banks of the United Arab Emirates (UAE). Three different banks viz. the Khalij Commercial Bank, the Emirates Commercial Bank and the Federal Commercial Bank merged in the month of July 1985, leading to the incorporation of the Abu Dhabi Commercial Bank.

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. American Express had been established in the year 1850, and is well known all around the world for its dedicated Credit Card, Traveller’s Cheque and Charge Card services.

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), as reported by The Banker magazine. The bank is present in 87 countries with a 162,700-strong workforce offering its services to the bank.

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Citibank
Citibank is one of the largest banks in the U.S., and is a part of the financial services company Citigroup. Citibank had been founded in the year 1812. Initially its name was City Bank of New York, which was later changed to First National City Bank of New York.

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. The government of Singapore established the DBS Bank in the year 1968, and it was primarily aimed at providing development oriented financial services.

Deutsche Bank
Deutsche Bank, headquartered at Frankfurt in Germany, ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management. It is one the world's leading international financial service providers with roughly EURO 2.2 trillion in assets and approximately 80,000 employees.

HSBC Ltd
HSBC Bank is a subsidiary of HSBC Holdings plc, a London based banking giant which, according to the Forbes magazine, is the largest banking group in the world, and the 6th largest company in the world as of April 2009.

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. Although the bank is located in Britain, still a huge chunk of its revenues originate from the continents of Asia, Africa and Middle East.

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, Barclays GRCB India has placed itself amongst the most respected foreign banks in the country that is serving more than 830,000 clients.

Bank Accounts:

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NRE Account (Non-Resident External Account): To park your overseas earnings in rupee denominated savings, current, fixed and recurring deposit accounts. Principal and interest fully repatriable and you can also use this account for foreign remittances as well.
NRO Account (Non-Resident Ordinary Account): To park your Indian earnings in rupee denominated savings, current, fixed and recurring deposit accounts. Conditional repatriability possible.
FCNR Account: (Foreign Currency Non Resident Account): To park your overseas earnings in Foreign Currency Fixed deposits account and mitigate the risk of exchange rate fluctuations. Principal and interest fully repatriable.
PIS (Portfolio Investment Scheme): To invest in Indian Secondary market on repatriable and non repatriable basis via designated branches of Axis Bank.
RFC (Resident Foreign Currency Account): To retain your funds in foreign currency in case you are returning back to India for good.

 NRI demat account in India.
This NRI account helps NRIs to buy and sell Indian shares online


 

Indian Banks

 HSBC Internet Banking
# State Bank of India
# Canara Bank
# Indian Overseas Bank
# Punjab National Bank
# ICICI Bank
# Bank of Baroda
# The Catholic Syrian Bank
# Federal Bank Limited
# HDFC Bank
# Citi Bank
# Corporation Bank
# Dena Bank
# IDBI Bank
# Union Bank Of India
# Vysya Bank
# UTI
# Deutsche Bank
# Standard Chartered bank
# Indian Bank
# Abu Dhabi Commercial Bank
# UCO Bank
# ABN AMRO Bank
# Reserve Bank Of India # Allahabad Bank
# Andhra Bank
# Bank Of Punjab
# Centurion Bank
# Development Credit Bank
# Export Import Bank Of India
# Global Trust Bank
# IndusInd Bank Ltd.
# Mandvi Cooperative Bank Ltd
# Ottapalam Cooperative Urban Bank
# Oriental Bank Of Commerce
# The South Indian Bank
# State Bank of Travancore
# Nedungadi Bank
# P & M Co-Operative Bank Ltd
# Saraswat Co-operative Bank
# State Bank of Hyderabad
# State Bank Of Travancore
# Syndicate Bank