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Commitment of Government of India With World Trade Organisation (Wto) For Regulation on Issue of Licences And Opening of Branches of Foreign Banks in the Country

Dated:- 14-3-2015 - The Government is under commitment with the World Trade Organisation (WTO) with regard to regulation on issue of licenses and opening of branches of foreign banks across the country. As per India s commitment to the WTO under financial services, market access is restricted to 12 branches in a year to all foreign banks taken together. India has been complying with this commitment. However, as per the WTO commitment, licenses for new foreign banks in branch mode presence, may b .....

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New Delhi through upgradation of its representative office in New Delhi. iii) Banco Santander was allowed to open a representative office in Mumbai. As per India s commitment to WTO under financial services, market access is restricted to 12 branches in a year to all foreign banks taken together. India has been complying with this commitment and in some years gone beyond this commitment as a measure of autonomous liberalization. Foreign banks are granted a universal banking license in India, in .....

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