Foreign banks in India: losing sleep over regulation | beyondbrics

Foreign banks in India: losing sleep over regulation | beyondbrics:

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What keeps foreign banks in India up at night? Regulatory nightmares, at least according to a new survey out on Wednesday from consultants PwC. And while recently-appointed RBI governor Raghuram Rajan is trying to calm their nerves, there are big concerns lurking about the impact of India’s forthcoming elections too.

Year 2013 has been a fairly momentous period for India’s 43 foreign banks, who together make up roughly 6 per cent of the country’s $1.5tn in bank assets – ranging from the long-established “big 3” of Citi, HSBC and Standard Chartered, to relative minnows like South Korea’s Woori or Russia’s Sberbank.

Most importantly, the Reserve Bank of India finally got around to publishing its long-awaited plans to nudge many such institutions, and especially the big, global ones, to set up separately capitalised local subsidiaries."

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