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Public sector banks are reviewing operations at overseas branches amid a resource crunch. The government’s push for turn-around plans alongside a Rs 2.11 lakh crore capital infusion programme for state-owned banks has also nudged them into reviewing their overseas business.
The consolidated balance sheet of banks with a cross-border presence, including overseas subsidiaries, contracted during 2016-17. The total assets of branches of Indian banks abroad declined from $231 billion in 2015-16 to $224 billion in 2016-17, according to the Reserve Bank of India.
Lower interest income and rising expenditure resulted in a ‘loss’ for the overseas branches of Indian banks in 2016-17.
