The Financial Express
24 Jun 2008
Despite obtaining the much-sought after qualified full banking (QFB) license from the Monetary Authority of Singapore, India’s largest lender, the State Bank of India (SBI) is upset that the licence to offer a whole gamut of retail banking services in that country is not translating into a viable business proposition in the face of severe restrictions being allegedly put by the authorities there. Indian authorities raised the issue on Monday during the talks held here between the two countries, official sources told FE.
What has irked SBI is that the adverse credit rating given to it by the MAS and subjecting it to the highest minimum asset maintenance (MAM) ratio, is making its business unviable, the sources said.
>>>> More
