Sunday, October 13, 2013

Foreign banks entry to be made easy - Raghuram Rajan

Reserve Bank of India will be unveiling new banking sector reforms, which would allow foreign banks to enter Indian market in a big way and even contemplate taking over Indian banks, according to RBI Governor Raghuram Rajan.

The banking sector reform, in particular to those facilitating entry of foreign banks in India in a "big way" is part of the five pillars of reforms, including monetary policy framework, which the RBI is going to implement in the next few years.

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