Only twenty Indian banks including private sector banks appear in the list of “Top 1000 World Banks” as listed by the London based magazine “The Banker”. What is even more revealing is that State Bank of India, India’s largest bank, ranks 82nd amongst the top global banks. Size is increasingly becoming important for the global banks as it is crucial to improved efficiency.
These initiatives serve to enhance communications and realise financial cooperation in a gradual fashion. Meanwhile, in accordance with the “Memorandum of Understanding (MOU) on Financial Cooperation between Shanghai and Macao” signed between the AMCM and the Financial Services Office of the Municipal Government of Shanghai in 2012, the “1st Financial Cooperation Meeting between Shanghai and Macao” took place in Shanghai in 2013.