Question
What method did Indian banks predominantly utilize to
expand their overseas presence according to Reserve Bank data?Solution
Indian banks increased their overseas presence through the subsidiaries route to 417 during 2022-23, from 399 at the end of the preceeding fiscal, as per Reserve Bank data released. Their employee strength, too, rose 0.5 per cent and 6.2 per cent for foreign branches and subsidiaries, respectively, during 2022-23, the Reserve Bank of India (RBI) survey on International Trade in Banking Services 2022-23 showed.
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