Foreign Banks in India are contributing a significant history in the Indian Banking sector and the growth of the Indian banking sector. Foreign banks are present from the colonial periods with several branches of European banks. The East India Company established three banks in three cities which are, Bengal, Bombay, and Madras the names of the three banks were Bank of Bengal, Bank of Bombay, and Bank of Madras. As of 2024, there are 44 foreign banks in India with a total of 1253 branches. Which acquired 7% of the total assets of the Indian Banking sector. 

Challenges of Foreign Banks in India

• Stringent Regulations

• Cultural Differences

• Competition with Local Banks

• Managing the balancing act between local and global operations. 

Although Foreign banks in India faced these difficulties, they managed their operations well while operating there. We have included the list of foreign banks along with their headquarters and ranking among the top 10 foreign banks in India, in this article about foreign banks operating in India. The PDF file for this topic is attached to the page and can be downloaded using the link provided below. This article will help the aspirants to get more marks in the examinations the PDF is available in both English and Tamil.

Static GK 

What Is a Foreign Bank?

“Foreign banks” are the Financial Institutions that serve clients outside of their own country. A Foreign Bank branch works as a class of International Bank, subject to compliance with the regulations of both its home country and a country in which it has a physical presence. The foreign investors will fully subscribe the share capital of the foreign countries. There are 45 Indian International Banks in India which have almost 300 branches in the largest cities of India. In 2022, there are 46 Foreign Banks. But now in 2024, there are a total of 44 foreign banks in India.

Foreign Banks In India 2024 And Their Headquarters

Candidates shall check the Foreign Banks in India and their headquarters in the table given below.

List of Indian Banks And Headquarters

History of Banking in India

Top 10 Foreign Banks In India 2024

Here we have provided India's top 10 foreign banks in detail.

• • 1. HSBC

    2. Standard Chartered Bank

    3. DBS Bank

    4. Barclays Bank

    5. Deutsche Bank (DB)

    6. Bank of America (BofA)

    7. Bank of Bahrain and Kuwait (BBK)

    8. Citibank

    9. Industrial and Commercial Bank of China (ICBC)

    10. BNP Paribas

Largest Foreign Banks In India 2024

Here we have given the list of the Indas largest foreign banks. Aspirants can check the largest foreign banks and their complete information here. It will be very helpful to maximize your scores in the General Awareness section of the bank exams.

About Regional Rural Banks in India

Standard Chartered Bank

Standard Chartered Bank is one of India's largest foreign banks. It is headquartered in London, England. Standard Chartered Bank is a British multinational banking and financial services firm. It has around 100 branches across India and it provides many banking services to Indian clients in harmony with the regulations set forth by the Reserve Bank of India.

Bank of America

Bank of America is an International Financial Services Company headquartered in Charlotte, North Carolina, United States. It is one of the top International Banks in India. The bank holds up international transactions between India and America. 

Citi Bank

Citi Bank is a multinational American bank headquartered in New York, United States. Citi Bank started its operations in 1902 in Kolkata, India. Citi Bank is one of the leading foreign banks that offers various banking services to India. Mumbai, Maharashtra is the Indian headquarters for the city bank. 

DBS Bank

Singapore is the headquarters of DBS Bank. DBS is the abbreviation of the Development Bank of Singapore. It is a Singaporean multinational banking and financial services corporation. The DBS bank was first opened in 1994 in India and its Indian headquarters is located in Mumbai, Maharashtra. DBS has 12 branches in India. 

HSBC India

HSBC India is a wholly owned subsidiary of the Hong Kong and Shanghai Banking Corporation. HSBC India is headquartered in London, England, UK. It is the second biggest bank in Europe. HSBC India has 50 branches across India and Mumbai, Maharashtra is the Indian Headquarters of HSBC India. 

Deutsche Bank

Frankfurt, Germany is the headquarters of Deutsche Bank. It is a German international bank and financial services company. Deutsche Bank was founded in 1870. It is a major international investment bank with a powerful and profit-making private client franchise.

Payment Bank of India 

FAQs

Q. How many foreign banks are there in India?

As of the year 2024, there are 44 foreign banks in India.

Q. Which is the largest foreign bank in India?

The largest foreign bank in India is Standard Chartered Bank headquartered in London, England.

Q. What is the Indian headquarters of Citi Bank?

Mumbai, Maharashtra is the Indian headquarters of Citi Bank.