 "Maximum 4 expats in each Indian branch: RBI to foreign banks")
A foreign bank can deploy a maximum of four expatriates for each branch opened in India and not more than six expatriates for their Head Office functions, the Reserve Bank (RBI) said today.
In a notification, RBI said that it has been receiving requests from some of the foreign banks to remove the numerical restriction on engagement of expatriates in view of the operational difficulties faced by them in doing business in India.
"In the light of these requests, the position in this regard has since been reviewed in consultation with the Government of India.
"It has been decided that a foreign bank can deploy a maximum of four expatriates for each branch opened in India and not more than six expatriates for their Head Office functions," the RBI said.
The other instructions with regard to the posting of trainee officers and remittance facilities by the expatriate officers in Indian branches remain unchanged.
In a notification, RBI said that it has been receiving requests from some of the foreign banks to remove the numerical restriction on engagement of expatriates in view of the operational difficulties faced by them in doing business in India.
"In the light of these requests, the position in this regard has since been reviewed in consultation with the Government of India.
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The other instructions with regard to the posting of trainee officers and remittance facilities by the expatriate officers in Indian branches remain unchanged.
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