........."I see over the next few years a dramatic remaking of the banking landscape," he told the Financial Times. "Both from the . . . new banks which are going to come on board, and the foreign banks which are going to be allowed to expand more freely. It will be a multiplier in terms of competition." International outfits such as Standard Chartered and HSBC account for only about 6 per cent of assets, but Mr Rajan says the RBI's new rules provide a "huge" opportunity to grow by expanding into areas such as trade finance, and even to "take over Indian banks at some point".............
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