Competition has been enhanced by gradually removing administered interest rate structures, permitting entry of new private sector banks, and expanding the branch network of foreign banks. Unlike in most countries, a branch of a foreign bank in India can conduct any business that a bank incorporated in India may do.
Second, a price restriction has been imposed on all telephony operators in the form of the elimination of national long distance fees, which in a world of digital networks and the internet were increasingly obsolete. Third, an asymmetric regime containing price and activity caps applies to dominant players, as long as they continue to be deemed as such.