Profits of a branch of foreign bank in india is included in gross domestic product of india or not?
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You must understand that even if a bank is as a subsidiary of a foreign bank, it has to function under the Indian laws, under the supervision of RBI. Hence, any business generated by these banks are part of the Indian economy.
Foreign bank's Indian Unit is a separate unit in India having Licence from RBI under BRAct.
Indian Unit has got Indian Board of Directors.and Balance SHEET.
It is part of Indian GDP.
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