Foreign Banks in India, Foreign Banks Branches and Interest Rates

About Foreign Banks

Public Sector Banks (PSBs) are those banks in which the government of India holds a majority stake (i.e. more than 50%). It can also be said that public sector bank is a government running bank. The main idea behind PSB is social welfare. The government keeps reducing the stake in the PSU banks from time to time. Public Sector Banks list their shares on stock exchanges in India. These banks offer different kinds of products and services to the customers. Examples of Public Sector Banks are State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, etc.

Benefits of Foreign Banks

• Foreign banks promote globalization of Indian Economy
• They have introduced many latest technologies, banking practices and innovations in our banking system in India
• They have made banking system in India more smooth and customer friendly
• They have enhanced the competition in Indian Banking Sector
• Offer facilities for imports and exports
• Helpful in the arrangement of foreign exchange more conveniently

List of Foreign Banks Operating in India