India eases rules for foreign banks

India's central bank has unveiled new rules that will allow foreign banks to expand their presence in the country. Foreign banks will now be allowed to set up "wholly owned subsidiaries" in India, which will enable them to open branches anywhere in the country. via Pocket http://www.bbc.co.uk/news/business-24846760#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa