“ROLE OF FOREIGN BANKS IN INDIAN ECONOMY”

Authors

  • Dr. Rajeev Shukla Economist at The State Trading Corporation of India Ltd, New Delhi (A Government of India Enterprise)

DOI:

https://doi.org/10.57067/e9456b78

Keywords:

Commercial Banking, Organization (WTO), New Economic Policy, Hitherto, India, private capital, global economic environment, Trade policy.

Abstract

A perusal of the history of banking in India indicates that foreign banks had been operating in an organized form in our country since the beginning of 19th century. Majority of the foreign banks had been merely agencies of large banking companies having their registered offices in foreign countries. These banks were primarily called upon to contribute a lot to the development of foreign trade in India. In fact, these banks are still expected to play significant role in the country’s foreign trade. With normal ups and downs due to business vicissitudes, these banks have been varying in number over the period and at present, there are twenty-nine foreign scheduled banks operating in India.

References

Adarker, B.N. “Commercial Banks in India After Nationalization”. AI Shroof Memorial Trust, Bombay- 1971.

Alhadaff, D.A.- “Competition and Control in Banking A study of the regulations of banks’ competition in Italy, France and England” university of California press, Los Angles, 1954.

Basu, A.K.- “Fundamentals of Banking: Theory and Practice” A.R. Mukherjee, Calcutta- 12.

Bery S.- “India commercial Bank Reform, financial sector Refroms, Economic Growth and Stability EDI seminar series, The world Bank Washington D.C.

Bhagwati J.N. “Foreign trade Regimes and Economic Development India” New York” (1975)

Bharadwaj R. “Structural Basis of India’s foreign Trade” 2003.

Bhasin. Uday “Challenges in India’s Banking sector 2005. Price

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Published

2024-05-28

How to Cite

“ROLE OF FOREIGN BANKS IN INDIAN ECONOMY”. (2024). Knowledgeable Research: A Multidisciplinary Journal, 2(10), 73-81. https://doi.org/10.57067/e9456b78

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