Things to Avoid About Foreign Banking

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The major players in the Indian Banking scenario are SBI, Bank of India, Pubjab National Bank, Bank of Baroda, United Commercial Bank etc. However, there are limited scope for the international banks in the country but this limited scope has turned out to be unimaginably heavier in terms of profits so earned. The Public sector banks are more popular among masses or in other words we can say that the Foreign Banks are not so much popular here in India due to the fact that there have been so many scams where the hard earnings of the people were lost in, and which were mainly caused by the private or the foreign bank in India.Other factor affecting these banks is the amount of interest offered by these banks are not in level with the public sector banks.

The interests are either very low or generally a person is charged too much for ordinary services such as withdrawing funds from the account in cheque or from credit card. If someone happens to have an account in the banks such as the Citi Bank, ABN-Amro Bank, Taib Bank, Standard Chartered Bank, BNP Paribas Bank etc. you must be well versed with their rules and regulations, as they are governed by the Foreign standards maintained by their own country. The major factor to be reviewed is the Rules by which the bank is governed, are these rules customer oriented or simply bank oriented. However, the famous banks such as Standard Chartered Banks maintain high level of customer satisfaction and therefore, choosing such banks among others will be a good choice. The other thing to note here is the factor of interest. However, the interests are governed by the Government of India and Reserve Bank of India but it is an intelligent banking. The one who is going to be the customer of such banks should also enquire about the fees and other expenses involved in the banking operations.

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Author of this article is a financial consultant and adviser. He provide solution and information based on finance companies in india, bank in India, foreign bank in India.

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