(a) whether many Public Sector Banks are proposing to expand their commercial activities in foreign countries
(b) if so, the details thereof alongwith the number of Public Sector Banks proposing to open their branches abroad, bank-wise, country-wise;
(
(c) whether any regulatory check has been planned to oversee their foreign venture; and
(d) if so, the details thereof?
FINANCE MINISTER (SHRI P. CHIDAMBARAM)
(a) to (d) : A statement is laid on the Table of the House.
STATEMENT FOR LOK SABHA STARRED QUESTION NO.588 FOR MAY 2005 REGARDING OVERSEAS EXPANSION OF PUBLIC SECTOR
BANKS TABLED BY SHRI RAJENDER KUMAR AND SHRI RATILAL KALIDAS VARMA
(a )&(b) :Yes, Sir. Nine public sector banks have opened 95 branches in 26 countries.Four of these banks have proposed
to open 11 more branches at overseas centers.The bank-wise and country-wise details relating to number of branches proposed
to be opened abroad by public sector banks are as under:
Name of the Bank No. of branches Name of the Country
State Bank of India 5 Bangladesh, Italy (Milan),
Bahrain, USA (Washington and New York)
Bank of Baroda 3 UAE, Hong Kong & UK Bank of India 2 Belgium & Vietnam
Canara bank 1 Hong Kong