......“This is an excellent opportunity for banks in China to try and expand their Indian footprint if they wish to, because India is not going to be an indefinitely open market,” says Ananda Bhaumik, senior director at India Ratings. That is because the recently announced framework of the Reserve Bank of India (RBI) states that when the capital and reserves of the foreign banks in India exceed 20 percent of the capital and reserves of the banking system, RBI would bring back restrictions on further entry of new wholly owned subsidiaries (WOS) of foreign banks............
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