employees from local sources: RBI survey
NEW DELHI, Jan 18: Indian banks branches operating abroad employed 62.3 per cent of employees from local sources, 29.8 per cent from India and remaining 7.9 per cent from other countries while foreign banks working in India had an overwhelming share of local employees 99.4 per cent in their total employees in 2013-14, according to RBI’s survey.
The number of employees in Indian banks’ branches operating abroad increased by 5.5 per cent during 2013-14. In the case of foreign banks operating in India, number of employees declined by 1.6 per cent, the RBI said in a statement. Indian banks’ branches operating abroad generated major share of fee income by rendering ‘credit related services’, derivative, stock, securities, foreign exchange trading services’, and ‘trade finance related services’.
While the foreign banks operating in India, ‘derivative, stock, securities, foreign exchange trading services’, ‘trade finance related services’ along with ‘financial consultancy and advisory services’ and ‘payment and money transmission services’ were the major sources of fee income, it added. Total income of Indian banks’ overseas branches increased by 7.7 per cent to 393.7 billion in 2013-14. In comparison, foreign banks operating in India had larger income growth of 11.8 per cent and the amount of their total income was also higher at 590.6 billion.
The ratio of total expenditure to total income stood at 76.4 per cent and 76.1 per cent for Indian banks’ overseas branches and foreign banks operating in India, respectively. In terms of fee income, the branches of Indian banks in UK had the largest contribution in providing banking services followed by Hong Kong and Singapore.
(AGENCIES)
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