With the coming of Foreign Banks in India has revolutionarized the banking system in India by introducing use of latest technologies in the banking system. It has facilitated in making Indian Banking system more viable and competent. Government has also come up with plans for expansion of foreign banks in India and have allowed merger of foreign banks with private sector banks. Some of the major foreign banks operating in India are: ABN Amro, Citi Bank, American Express Bank Ltd, Deutsche Bank, DBS bank, HSBS Bank, Standard Chartered Bank, Barclays Bank and many more.
The coming of foreign banks in India has changed the whole banking system in India with prompt and quick customer service. Foreign banks have increased the efficiency of the local banking system. Today Indian economy is highly influenced by these Foreign Banks. The present credit crisis has also affected India and its whole economy. It has both positive as well as negative effects. However, negative effects were overlooked by the government but know have understood its importance.
