FINANCIAL INSTITUTIONS AND EXCHANGE CONTROL
FINANCIAL INSTITUTIONS AND EXCHANGE CONTROL


Nationalised Banks of India

Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Bhartiya Mahila Bank
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
IDBI Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab National Bank
Punjab & Sind Bank
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank

State and associate Banks of India

State Bank of India
State Bank of Bikaner & Jaipur
State Bank of Hyderabad
State Bank of Mysore
State Bank of Patiala
State Bank of Travancore

Exchange controls

India has liberalised its foreign exchange controls. The Rupee is now freely convertible on current account. The Rupee is also almost fully convertible on capital account for non-residents.

Profits earned, dividends and proceeds out of the sale of investments are fully repatriable for FDI. There are restrictions on capital accounts for resident Indians for incomes earned in India.

The exchange control regulations in India are governed by the Foreign Exchange Management Act (FEMA). The apex exchange control authority in India is the Reserve Bank of India (RBI) which regulates the law and is responsible for all key approvals.