Foreign Banks Face RBI Stick After Shunning the Carrot

......The RBI’s efforts are in line with other global regulators, which are trying to prevent any contagion effect from economic crisis such as that in 2008. But, foreign banks cite requirement like guarantees from the parent and restriction on dividend payout as impediments in creating local subsidiaries. They are also not happy with the rules on compulsory lending to the priority sector — such as........

Read - ET