CAMS brings to you the important happenings in the BFSI segment during this week. In this weekly roundup, we will attempt to cover key events, milestones, regulatory updates that have an impact on the BFSI sector in India and the world.
Foreign banks have been deploying expatriates for their operations in India. With this in mind, the RBI has ruled that a foreign bank can have a maximum of four expatriates for each branch in India and not more than six expatriates at their head office.
HSBC Holdings Plc will shut down its private banking business in India in the first quarter of 2016. Though India is Asia’s third largest economy, it has not translated into profits for foreign banks.
Rating company, Fitch has said that capital raising will be an important issue for Indian banks to look into, in order to revive credit growth. The Fitch report also mentioned the challenges that may be in store for state-owned banks, given their weak core capitalisation.
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