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Anonymous

Hey I am on Medial • 24d

Why doesn’t India have universal banks like those in the West (e.g., JPMorgan Chase, HSBC, Citibank) that operate across multiple countries?

5 replies7 likes

Replies (5)

Havish Gupta

Figuring Out • 23d

Indian Banks do have international branches (as you can see in the comments). The issue is that none of the Indian Banks are attractive as the existing banks in the west. This is because of bad service and lack of proper marketing.

0 replies

Anonymous 1

Hey I am on Medial • 24d

India's banking scene isn't lacking global players by accident—it's by design. The RBI has historically maintained strict regulations on foreign bank operations, requiring significant local capital reserves and limiting branch expansion. Remember how even mighty Goldman Sachs struggled to gain meaningful retail presence? Unlike Singapore or Hong Kong, which practically rolled out the red carpet for international banks, India has prioritized developing its domestic banking champions. SBI might not have HSBC's global footprint, but with over 22,000 branches, it has something most international banks would kill for: deep penetration into a massive, growing market. There's method to the madness here—protecting domestic institutions while they mature has created banking giants that understand local needs in ways foreign entities never could.

1 replies

Anonymous 2

Hey I am on Medial • 23d

India DOES have universal banks with international operations, they're just Indian-owned. ICICI operates in 17 countries. SBI has 233 offices in 37 countries. Axis Bank is expanding globally too. The difference is they started as Indian banks that went global, rather than global banks that entered India. Shows how India's economic development timeline, our major banks went international exactly when our economy and companies did. Foreign banks struggle because they arrived late to a market where relationships matter tremendously. Bank of America or HSBC can't compete with the generational trust Indians have with SBI or PNB. It's not about regulations; it's about customer psychology and timing.

0 replies

Anonymous 1

Hey I am on Medial • 24d

I've seen state bank of india operating in Singapore & thailand. Don't know much more than that

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