In a bid to stem the cascading impact of global economic turmoil, the Reserve Bank of India (RBI) has decided to delve deeper into international businesses of domestic banks. The regulator has revived the process of making onsite visits to foreign branches/subsidiaries of domestic banks after more than two decades, a source from RBI told Moneycontrol.com. "In two weeks time, a core team from the department of banking supervision (DBS) at RBI will start conducting such onsite visits. It will conduct random inspections on any/all overseas branch(s) if they sniff problems in the concerned region. Currently, the focus is on Singapore and Hong Kong," said the source on condition of anonymity.…………
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