Business Standard, 20 Oct 2009
Stricter norms in Singapore and Hong Kong have queered the pitch for many mid-sized Indian public sector banks. More than a dozen Indian banks have operations in these two countries.
Ahead of the financial turmoil, the Monetary Authority of Singapore had said that whatever liabilities foreign banks had in Singapore dollars, equivalent assets should be created in the same currency.
After the financial crisis, with profitability of banks from overseas branches falling, Indian banks are finding it difficult to adhere to the regulation.
Full Story
