RBI launches survey on international trade in banking services

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Mumbai, Jan 30 (UNI) The Reserve Bank of India (RBI) has launched a survey on international trade in banking services in order to develop a proper statistical framework.

The Central Bank today advised the foreign banks having branches in domestic territory as well as overseas, to provide the asked information inputs, in the survey form available on RBI's website, by March 15.

The survey intends to fill in data gaps on international trade in services and to create a consistent and comparable database, keeping in view of the requirements for policy decisions and consistency with international standards, the Apex Bank said in a statement.

Pointing out that liberalisation of international trade in financial services is one of the important aspects of negotiations on trade in services as a part of the General Agreement on Trade in Services (GATS), RBI said, ''The availability of comparable statistics is a prerequisite for meaningful international negotiations under GATS.'' In order to develop a proper statistical framework for compiling various information on international trade in banking services, a technical group was constituted in the Reserve Bank of India and, based on the recommendations of the Group, it was decided to conduct an annual survey among foreign banks in India and Indian banks having overseas operations, the Central Bank added.

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