Offshore biz of banks under RBI scanner
By Vaibhav Aggarwal
Mar 27, 2012
Print    Email    RSS   

Banking and monetary regulator Reserve Bank of India is planning to start inspection of the offshore operations of Indian lenders. The prime lenders to be focused upon will be State Bank of India, ICICI Bank and Bank of Baroda.

Lenders who have almost one fifth of their total assets plying overseas will be mainly under scanner, informed sources familiar to the development.

"RBI conveyed the message that banks should be prepared for an RBI inspection henceforth for foreign offices,'' said a source. "The point made by the regulator was that as the size of overseas operations is rising, it needs to be directly monitored by the central bank officials."

So far the central bank had been working as per data revealed by respective banks about their business size and operations abroad.

The inspection process of the apex bank would begin in the next fiscal and for that RBI will follow the lines of other regulators like Hong Kong Monetary Authority and UK's Financial Services Authority.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Pay income tax through ATM
Get a loan to meet your any personal need
12 point conduct checklist for bank and...
How to decide on a loan for business?
Need of Financial inclusion: making the...

HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive