Eight banks have been granted approval by India’s Reserve Bank to float foreign exchange products for resident Indians under the $25,000 sch...

Eight banks have been granted approval by India’s Reserve Bank to float foreign exchange products for resident Indians under the $25,000 scheme. This allows them to invest up to this sum abroad annually. The eight are: ABN Amro Bank, Bank of India, Citibank, HSBC, ICICI Bank Standard Chartered, State Bank of India, and UCO Bank.