Overseas presence of Indian Bank increased during 2023-24 according to RBI survey

Current Context: The Reserve Bank of India (RBI) released its survey on international trade in banking services for the year 2023-24, highlighting an increase in the overseas presence of Indian banks.

• Key Findings:
• Increase in Branches: The number of overseas branches of Indian banks saw a significant rise, indicating an expansion of their global operations.
• Employee Strength: There was an 8.2% increase in the number of employees working in these overseas branches, reflecting the banks' commitment to strengthening their international presence.
• Balance Sheet Growth: The balance sheets of these overseas branches recorded a 4.3% growth, showcasing the financial growth of Indian banks' operations outside India.
• Geographical Spread: The survey highlighted that Indian banks are increasingly diversifying their presence across different regions, aiming to tap into various international markets.

Question:

1 What was the percentage increase in the number of employees working in the overseas branches of Indian banks as highlighted in the RBI’s 2023-24 survey?

• A) 5.5%
• B) 8.2%
• C) 10.1%
• D) 12.5%

Answer: B) According to the RBI survey, there was an 8.2% increase in the number of employees working in overseas branches of Indian banks, highlighting the expansion of workforce to support global operations.