International Journal of Applied Research
Vol. 6, Issue 10, Part H (2020)
Impact of FDI on banking sector in India
The Government of India has amended FDI policy to increase FDI inflow in the country. It also launched Make in India initiative in September 2014 under which FDI policy for 25 sectors was liberalised further As of April 2015, FDI inflow in India increased by 48% since the launch of "Make in India" initiative. India was ranking 15th in the world in 2013 in terms of FDI inflow; it rose up to 9th position in 2014 while in 2015 India became top destination for foreign direct investment. Today Indian Banks are as technology savvy as their counter parts in developed countries. The competitive and reform force have led to the emergence of internet, e-banking, ATM, credit card and mobile banking too, in order to attract and retain the customers by bank. As a result of Liberalization, Privatization and Globalization mode, Indian banks going global and many global banks setting up business in India, the Indian banking system is set to involve into a totally new level it will help the banking system grow in strength going into the future.
How to cite this article:
Dr. Gobind Kumar Das. Impact of FDI on banking sector in India. Int J Appl Res 2020;6(10):469-471.