32 foreign banks working in India

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Mumbai: The total number of branches of the 32 foreign banks operating in India as on March 31, 2010, stood at 306, which is a small rise of 4.4 percent over the figure of 293 in the previous fiscal.

Further, according to the latest data released by the Reserve Bank, only one new foreign lender — First Rand Bank of South Africa —entered India.

At the end of 2009-10, a total of 235 out of the 306 branches of overseas lenders operating in the Indian market were in the metropolitan cities.

Another 60 branches were in other urban localities, while six and five branches were in semi-urban and rural areas, respectively.

At the end of 2008-09, metropolitan cities had accounted for 233 of the then existing 293 branches of foreign banks in India, followed by 52 in other urban centers, and four each in semi-urban and rural areas.

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