They should look out more actively in regions which hold out a promise of attractive acquisitions. 23. The surmise, therefore, is that Indian banks should increase their global footprint opportunistically even if they do not get to the top of the league table. Third issue: Should we mandate foreign banks to come in only as subsidiaries? 24.
The next issue I want to address is whether we should mandate foreign banks to come in only as subsidiaries. 25. The road map for the presence of foreign banks in India put out by the Reserve Bank in 2005 allows foreign banks the option of coming in either as a branch or as a subsidiary, but not both at the same time.