Lots of groundwork required: PwC on banking reforms

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  • Published On: October 15, 2013
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At present, all foreign banks are operating in India by registering their branches but without establishing subsidiaries. If one adopts a wholly-owned subsidiary structure, the RBI will allow near national treatment but issues of reciprocity and taxation need to be sorted out before foreign banks take the giant leap of converting to the structure, tells PwC India executive director Shinjini Kumar.

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