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List of Foreign Exchange Banks in India

Published by Gbaf News

Posted on April 22, 2013

2 min read

· Last updated: December 7, 2018

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ABN AMRO Bank N.V.

Abu Dhabi Commercial Bank Ltd.

Allahabad Bank

American Express Bank Ltd.

Andhra Bank

ANZ Grindlays Bank Ltd.
Arab Bangladesh Bank Ltd.
Bank Internasional Indonesia
Bank of America National Trust and Savings Association
Bank of Bahrain and Kuwait B.S.C.
Bank of Baroda
Bank of Ceylon
Bank of India
Bank of Madura Ltd.
Bank of Maharashtra
Bank of Nova Scotia
Bank of Rajasthan Ltd.
Bank of Tokyo-Mitsubishi Ltd.
Banque Nationale De Paris
Barclays Bank p.l.c.
Benares State Bank Ltd.
Bharat Overseas Bank Ltd.
Bombay Mercantile Co-operative Bank Ltd.
Canara Bank
Catholic Syrian Bank Ltd.
Central Bank of India
Centurion Bank Ltd.
Chinatrust Commercial Bank
Cho Hung Bank
Citibank N.A.
City Union Bank Ltd.
Corporation Bank
Credit Lyonnais
Dena Bank
Deutsche Bank
Development Credit Bank Ltd.
Dhanalakshmi Bank Ltd.
Federal Bank Ltd.
HDFC Bank Ltd.
ICICI Banking Corporation Ltd.
IDBI Bank Ltd.
Indian Bank
Indian Overseas Bank
IndusInd Bank Ltd.
Internationale Nederlanden Bank (ING Bank)
Jammu and Kashmir Bank Ltd.
Karnataka Bank Ltd.
Karur Vysya Bank Ltd.
Lakshmi Vilas Bank Ltd.
Maharashtra State Co-operative Bank Ltd.
Nedungadi Bank Ltd.
Oman International Bank S.A.O.G.
Oriental Bank of Commerce
Oversea-Chinese Banking Corporation Ltd.
Punjab and Sind Bank
Punjab National Bank
Sangli Bank Ltd.
Saraswat Co-operative Bank Ltd.
SBI Commercial and International Bank Ltd.
Societe Generale
Sonali Bank
South Indian Bank Ltd.
Standard Chartered Bank
State Bank of Bikaner and Jaipur
State Bank of Hyderabad
State Bank of India
State Bank of Indore
State Bank of Mauritius Ltd.
State Bank of Mysore
State Bank of Patiala
State Bank of Saurashtra
State Bank of Travancore
Syndicate Bank
Tamilnad Mercantile Bank Ltd.
The Chase Manhattan Bank
The Development Bank of Singapore Ltd.
The Hongkong and Shanghai Banking Corporation Ltd.
The Toronto Dominion Bank
UCO Bank
Union Bank of India
United Bank of India
United Western Bank Ltd.
UTI Bank Ltd.
Vijaya Bank
Vysya Bank Ltd.

Key Takeaways

  • India maintains a wide-ranging network of banks authorized by the RBI to deal in foreign exchange, including both public sector, private, cooperative, and foreign banks.
  • Authorised Dealer (AD) Category‑I banks hold full‑fledged licenses to conduct both current and capital account forex transactions.
  • Numerous private and cooperative banks, as well as full‑fledged money changers, contribute to the forex ecosystem under RBI regulation.
  • Foreign banks with branches or subsidiaries in India are authorized forex dealers, including global names like BNP Paribas, Deutsche Bank, HSBC, and others.

References

Frequently Asked Questions

What makes a bank authorized to deal in foreign exchange in India?
Banks must obtain authorization from the Reserve Bank of India under FEMA to become Authorised Dealers (Category‑I) to conduct both current and capital account forex transactions.
Are foreign banks in India allowed to offer forex services?
Yes, many foreign banks operating branches or subsidiaries in India—such as Deutsche Bank, BNP Paribas, HSBC, Standard Chartered and others—are authorised dealers for foreign exchange.
Do cooperative banks also deal in forex?
Yes, several cooperative banks such as Saraswat Co‑operative Bank and Bombay Mercantile Co‑operative Bank are included among authorised forex dealers.

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