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Anonymous

Anonymous

Hey I am on Medialย โ€ขย 3d

Why doesnโ€™t India have universal banks like those in the West (e.g., JPMorgan Chase, HSBC, Citibank) that operate across multiple countries?

Anonymous

Anonymous 1

Hey I am on Medialย โ€ขย 3d

India's banking scene isn't lacking global players by accidentโ€”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 hereโ€”protecting domestic institutions while they mature has created banking giants that understand local needs in ways foreign entities never could.

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