Indian banks’ overseas arms see 11.3% rise in credit – RBI

The 2014-15 round of Survey on International Trade in Banking Services released by RBI was based on the branches or subsidiaries of Indian banks operating abroad and foreign banks operating in India.

• As per survey, Indian bank’s overseas branches reported 3 % rise in credit growth at Rs 8.33 lakh crore during 2014-15.

Credit extended by overseas branches of Indian banks increased by 11.3% to Rs 8,331.5 billion (USD 133.1 billion) in March 2015 and lending by foreign banks operating in India also increased by 13 per cent to Rs 3,359.9 billion (USD 53.7 billion).

• In terms of fee income generated, for overseas branches of Indian banks, it increased to Rs 94.3 billion (USD 1.5 billion) from Rs 89.6 billion (USD 1.5 billion) in the previous year.
• On the other hand, foreign banks operating in India generated lower fee income of Rs 72.7 billion (USD 1.2 billion) as compared to Rs 78.8 billion (USD 1.3 billion) in the previous year.