According to Reserve Bank data released on December 13, 2023, Indian banks have increased their overseas presence through subsidiaries to 417 during 2022-23. Whereas it was 399 at the end of the last financial year.

Key points of RBI survey:

The employee strength of Indian banks for overseas branches and subsidiaries is also expected to increase by 0.5 per cent and 6.2 per cent respectively during 2022-23.
The survey covered 14 Indian banks with overseas branches or subsidiaries and 44 foreign banks with branches or subsidiaries in India.
The number of branches and employees of foreign banks in India declined from 858 during 2021-22 to 774 in 2022-23.
During the year, the foreign business of Indian banks increased due to an increase in deposit raising as well as lending activities.
The transfer of retail business of a major foreign bank in India to a domestic private sector bank has led to a decline in foreign banks' total deposits and credit. Meanwhile, their capital and investment increased during 2022-23.
The consolidated balance sheets of foreign banks in India grew by 5.7 percent in US dollar terms.
Interest income and expenses across bank groups increased substantially during the year due to the tight global monetary policy cycle.
The total income-asset ratio of overseas branches of Indian banks increased to 3.9 per cent in 2022-23 (1.6 per cent in 2021-22). But this remained low compared to 6.9 percent of foreign banks in India.
Branches of Indian banks in the UAE have generated the highest fee income. This was followed by branches located in the UK, Hong Kong and Singapore respectively.

Reserve Bank of India (RBI):

The RBI was formed on April 1, 1935, following the rules of the Reserve Bank of India Act, 1934.
Initially, the central office of the RBI was established in Kolkata.
It was later permanently shifted to Mumbai in the year 1937.
The Central Office of the RBI is the office where the Governor of the RBI sits. From here, all the policies of RBI are decided.
RBI was initially privately owned. After the nationalisation of RBI in the year 1949, the Government of India got complete control over it.