He added RBI would release the names of banks it deemed “systemically important" within two-three days. Four foreign banks have applied to set up wholly-owned subsidiaries in India, according to its regulator, The Reserve Bank of India (RBI). In a statement on Wednesday, the RBI said that it had received applications from four Indian banks, including ICICI Bank, which is also India's largest private sector bank. This is despite calls from foreign banks to have the priority sector lending (PSL) norms relaxed after the central bank stated that they would have to offer the same 40% of their loans as Indian banks, to priority sectors. RBI says it will release the names of the banks within the next two-three days.
Four foreign banks have applied to set up wholly-owned subsidiaries in India, according to its regulator, The Reserve Bank of India (RBI). In a statement on Wednesday, the RBI said that it had received applications from four Indian banks, including ICICI Bank, which is also India's largest private sector bank. This is despite calls from foreign banks to have the priority sector lending (PSL) norms relaxed after the central bank stated that they would have to offer the same 40% of their loans as Indian banks, to priority sectors. RBI says it will release the names of the banks within the next two-three days.