 "RBI")
Foreign banks are slowly reducing their presence in the country, data from the Reserve Bank of India (RBI) showed.
“The presence of foreign banks in India declined in terms of number of branches and employees during 2016-17; the number of overseas branches of Indian banks, on the other hand, increased but there was marginal reduction in their employee strength,” RBI’s survey on international trade in banking services for 2016-17 said.
Foreign banks had 317 branches in 2015-16; it has reduced to 286. In the same period, employee strength came down from 26,642 to 24,766. In the period under consideration, foreign
