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Overseas staff strength, number of branches of Indian banks declined during 2020-21: RBI survey

All bank groups witnessed lower interest income and interest expenses during 2020-21 due to decline in bank credit and reduction in global and domestic interest rates in wake of the pandemic, the survey said.

February 04, 2022 / 05:47 PM IST
The RBI conducts the annual survey on cross-border fund-based banking services as well as financial auxiliary services.

The RBI conducts the annual survey on cross-border fund-based banking services as well as financial auxiliary services.

Foreign banks expanded their branch network and employee base in India marginally whereas overseas staff strength and number of branches of Indian banks and their subsidiaries recorded some decline during 2020-21, a Reserve Bank of India (RBI) survey showed on February 4.

The consolidated balance sheet of overseas branches of Indian banks expanded despite outflow of deposits and reduction in credit during 2020-21, which indicates a larger role of borrowing and investment portfolios in their business expansion, the survey on International Trade in Banking Services (ITBS) said.

The RBI conducts this annual survey on cross-border fund-based banking services as well as financial auxiliary services. The survey covers foreign branches of Indian banks and their overseas subsidiaries / joint ventures as well as foreign banks operating in India.

All bank groups witnessed lower interest income and interest expenses during 2020-21 due to a decline in bank credit and reduction in global and domestic interest rates in wake of the pandemic, the survey said.