Foreign banks expanded their department community and worker base in India marginally whereas abroad employees energy and variety of branches of Indian banks and their subsidiaries recorded a decline throughout 2020-21, as per a Reserve Bank of India (RBI) survey.
According to the RBI, the variety of overseas branches of Indian banks declined from 137 in 2019-20 to 121 in 2020-21 and overseas subsidiaries fell from 381 to 377. The decline coincided with the Covid-19 pandemic which hit most elements of the world in 2020.
While credit score prolonged by overseas branches of Indian banks fell from Rs 7,34,663 crore to Rs 6,84,808 crore in FY21, deposits fell from Rs 4,25,994 crore to Rs 3,98,630 crore. Deposits of subsidiaries of Indian banks additionally fell from Rs 1,12,117 crore to Rs 1,08,969 crore in 2020-21.
he variety of staff in abroad branches was down from 3,329 to three,164 in 2020-21 and abroad subsidiaries from 5,762 to 4,943, the RBI survey stated. The central financial institution stated the overall revenue of overseas branches of Indian banks declined from Rs 48,891 crore in FY20 to Rs 29,494 crore in FY21.
However, Indian branches of overseas banks mobilised an increase in deposits at Rs 7,58,361 crore in FY21, towards Rs 6,84,289 final 12 months. The variety of branches of overseas banks right here too went up from 306 to 311 through the 12 months, and the worker energy from 23,548 to 23,930, based on the RBI.
The consolidated stability sheet of abroad branches of Indian banks rose regardless of outflow of deposits and fall in credit score in FY21, indicating a bigger function of borrowing and funding portfolios in enterprise enlargement.
