Now this is an interesting paper. A review of an Indian Bank's (ICICI Bank) application to open up a full service branch in the USA was carried out by the Federal Reserve System.
Check out the review if you so wish, just 9 short pages.
I think it is a good sign that the Indian Banking System is linking even more into the global financial system. Not only would it better be able to serve Indian companies but also allow foreign and American companies to transact business with India.
And when the time comes for Indian Banks to purchase American Banks, this history would come in use very well. And for that matter, the quid pro quo will also be there in terms of American Banks expanding in India.
Good Stuff!!!!
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