RBI launches survey on International Trade in Banking Services

ANI
05 Jul 2022, 01:18 GMT+10

Mumbai (Maharashtra) [India], July 4 (ANI): The Reserve Bank of India (RBI) on Monday said it has launched the 2021-22 round of its survey on International Trade in Banking Services (ITBS).

The survey, conducted annually since 2006-07, provides information on financial services rendered by branches/subsidiaries/joint ventures of Indian banks operating abroad and branches/subsidiaries of foreign banks operating in India, based on explicit/implicit fees/commissions charged to customers.

The survey schedule for the 2021-22 round is required to be filled in by the banks for branches/subsidiaries/joint ventures of Indian banks operating abroad and branches/subsidiaries of foreign banks operating in India.

The soft form of this survey schedule is available on the RBI website. The duly filled-in schedule can be emailed by July 31, 2022.

In the objectives of the survey, the RBI notes, "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), which mainly depends on the multilateral negotiations with WTO members. The availability of data is a prerequisite for meaningful negotiations under GATS."The basic objective of this annual survey is to create a consistent and comparable database on international trade in banking services, keeping in view of the requirements for policy decisions and consistency with international standards. The data furnished in the schedule will be kept confidential and will be used only for statistical purposes. (ANI)

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