Foreign bank to bind up its retail business in india
Answers
Explanation:
the former governor of Reserve Bank of India (RBI), once lamented that global financial conglomerates are “larger and, perhaps, more powerful than some of the central banks.”
Today, that may not necessarily be the case and the possibility of these banks becoming a dominant force in the Indian banking space seems to have faded. Global banks have surely gotten big in India — over the last 15 years, the total advances of foreign banks in India have doubled every five years from Rs 75,318 crore in March 2005 to Rs 1.63 lakh crore in 2010 and to Rs 3.27 lakh crore in March 2015.
Hope it helps
Explanation:
In the last five years, Deutsche Bankhas sold its credit card business, Barclays has shut its retail banking business; Swiss lender UBS has given up its banking licence and so did US-based multinationals Morgan Stanley and Goldman Sachs; Bank of America-Merrill Lynch sold its wealth management business to Julius