Indian banks' overseas arms see 11.3% rise in credit: RBI

Indian banks' overseas branches reported 11.3 per cent rise in credit growth at Rs 8.33 lakh crore during 2014-15, says a RBI survey.
"Business growth continued for both groups of banks during 2014-15. Credit extended by overseas branches of Indian banks increased by 11.3 per cent to Rs 8,331.5 billion (USD 133.1 billion) in March 2015 and lending by foreign banks operating in India also increased by 13 per cent to Rs 3,359.9 billion (USD 53.7 billion)," RBI said in a statement.
The 2014-15 round of Survey on International Trade in Banking Services, released by RBI, was based on the branches or subsidiaries of Indian banks operating abroad and foreign banks operating in India.

While, the deposit mobilisation of overseas branches of Indian banks and foreign banks operating in India increased by 13.3 per cent and 15.5 per cent to Rs 5,659.3 billion (USD 90.4 billion) and Rs 4,025.3 billion (USD 64.3 billion), respectively, in March 2015.
In terms of fee income generated, for overseas branches of Indian banks, it increased to Rs 94.3 billion (USD 1.5 billion) from Rs 89.6 billion (USD 1.5 billion) in the previous year.
On the other hand, foreign banks operating in India generated lower fee income of Rs 72.7 billion (USD 1.2 billion) as compared to Rs 78.8 billion (USD 1.3 billion) in the previous year, RBI said.

With respect to country-wise banking services, in terms of fee income, the branches of Indian banks in the UK had the largest contribution in providing banking services, followed by the UAE and Hong Kong.