vo lume i issue 1 march 17 2005 economic news roadmap for presence of foreign banks in india unveiled reserve bank rbi on february 28 un veiled a the to allow fdi up 74 banking sector these guidelines provide that may operate through only one three channels namely branch es ii wholly owned subsidiary wos or iii with an aggregate investment private indian is divided two phases during first phase between and 2009 establish by way setting conversion existing branches into facilitate this has also issued detailed cover eligibility criteria applicant including minimum capital requirement rs 3 0 billion us 68 8 million will be treated par expansion flexibility go beyond wto commitment 12
